Life Healthcare FY results in good shape - CNBC Africa

Life Healthcare FY results in good shape


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Life Mercantile Hospital in Port Elizabeth. PHOTO: Life Healthcare

Group revenue reportedly increased by 8.3 per cent to 11.8 million rand from 10.9 million rand in the previous comparative year. Cash generated from operations was also up 12.2 per cent to 3.4 million rand from 3 million rand.

“Life Healthcare performed well during the year under review and continues to be in a healthy financial position to deliver its strategic objectives of growth, efficiency and sustainability,” the group said in a statement.

Profit after tax was up to to 2.8 million rand from 1.7 million rand, and operating profit also increased to 2.9 million rand from 2.5 million rand in 2012.

“Activities as measured by hospital paid patient days (PPDs), increased by 2.7 per cent on the back of a stronger second half, where PPDs grew by 3.8 per cent. An additional 95 active beds have been added to the business to cater for this additional demand,” the group added.

The group’s average occupancy for the year was up 71.7 per cent from 71.2 per cent in 2012.

 Revenue for the company’s Southern Africa hospitals segment reported an increase from 10.1 million rand in the previous year to 11 million rand.

Revenue for healthcare services segment also increased by 11.1 per cent to 831 million rand from 748 million rand in the previous year.

[DATA LHF:Life Healthcare] continued to improve on its quality metrics as evidenced by an improvement in both clinical outcomes and hospital acquired infection rates,” the group said.

Headline earnings per share increased by 20.6 per cent to 169.7 cents per share from 140.7 cents per share in 2012.

“The Group will continue to focus on its growth objectives in South Africa by adding additional beds through brownfield expansion, new greenfield facilities and mental healthcare,” the group explained.

“The Group will continue to look for investment opportunities in its selected emerging markets.”