Healthcare group Netcare expects to report higher earnings for the first half thanks to increased activity and operational efficiencies.
The private hospital group said in a statement late on Thursday that headline earnings per share (HEPS) for the six months ended March were expected to be 18%-22% higher at 57.7c to 59.7c.
Earnings per share are expected to be 20%-24% higher year on year.
The group said in March in a voluntary update to the market that it remained on track to achieve revenue growth of 5%-6% in the year to end-September, with revenue and occupancy rates expected to meet guidance.
Earlier this year, Netcare announced that it had extended the contract of CEO Richard Friedland after the candidate it had identified for the role pulled out at the last minute.
Friedland had accepted the board’s request to continue serving as CEO until September 2026, delaying his retirement and prolonging the group’s hunt for new leadership.
Netcare, which is valued at almost R20bn the JSE, operates 49 acute hospitals and 14 mental health hospitals countrywide.
The company’s share price closed up 0.85% at R14.17 on Thursday.
Netcare will release its first-half results on May 19.
With Jacob Webster
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