Netcare going strong, despite pandemic
Private hospital group, Netcare, said in a trading update that the challenges of weathering waves of Covid-19 and the short recovery periods between waves have impinged on its momentum towards a full recovery to pre-Covid-19 levels.
However, the group’s financial position remained strong, with net debt levels reduced by R1.1-bn during the past year. Revenue for the 2021 financial year grew within a range of 11.3% to 12.4% when compared with the previous year. – Business Day (25 October 2021)
The group’s full-year earnings before interest, taxes, depreciation and amortisation also increased by between 21.6% and 26.5% against the low base in 2020.
Netcare said it had adopted a conservative approach in electing to impair its Lesotho-related investments in the amount of R30-m. This was in light of the early termination of the Lesotho Public-Private Partnership agreement by the Government of Lesotho and ongoing uncertainty with regard to the resolution of matters under dispute.