Shares rally after Netcare forecasts bigger profit margin
Patient volumes at the private hospital group have recovered to pre-Covid levels
Private hospital group Netcare’s shares rose by the most in a year on Monday, as investors cheered its strong financial performance and forecast of higher profit margins for the year ahead.
Netcare reported a 9.5% increase in revenue to R23.7bn and a 36.5% rise in headline earnings per share (Heps) to 101c for the year to September 30, as the business normalised in the wake of Covid-19 and patient volumes returned to prepandemic levels. Normalised earnings before interest, tax, depreciation and amortisation (ebitda) rose 17.7% to R4.12bn. ..
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