The private healthcare provider anticipates revenue growth of 7.5 % to 9.5 % for the 2024 fiscal year.
Bruce Whitfield converses with Netcare Group CEO Dr. Richard Friedland.
For the fiscal year ending September 30, 2023, the private hospital group Netcare reported higher earnings, with revenue rising 9.5 % to almost R24 billion.
The group made more than R1.3 million in profit after taxes, up 27.2 %.
Netcare anticipates revenue growth of 7.5 % to 9.5 % for the 2024 fiscal year.
We are especially happy with the results because they come in the face of high interest rates at a 14-year high, catastrophic grid collapse, and hyperinflationary costs.
CEO of Netcare Group Richard Friedland
Despite having a number of factors working against us, we managed to generate excellent operating leverage from strong volumes. volumes that have increased over the past six months compared to pre-Covid volumes.
CEO of Netcare Group Richard Friedland
The healthcare provider has taken a number of steps to lessen these effects, even though they continue to have an impact on the macro environment, including the national power crisis, global supply chain restrictions, constrained consumers, and high levels of unemployment.
The ongoing improvement in Netcare Group’s financial performance, according to Dr. Richard Friedland, CEO, is motivating them as demand from the COVID-19 pandemic continues to normalize.
Since the majority of input costs are significantly higher than the tariffs obtained from the medical schemes, efficiency must still be sought after. Additionally, you face an untold number of additional difficulties that have an effect on your cost base when you have to deal with an 18 % increase in electricity, a two-digit increase of water and other administrative costs, and the collapse of service delivery.
CEO of Netcare Group Richard Friedland
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