Life Healthcare has attributed a 4.2% jump in group revenue to R13.5 billion for the six months to end-March to improved demand for health services.
The results comprised of a 4.5% increase in Southern African revenue to R9.5 billion and international revenue rising by 1.8% to R3.8 billion.
Normalised earnings before interest, taxation, depreciation and amortisation (EBITDA) for the hospital group’s international operations fell 13.3% to R806 million from R930 million due to the ending of Covid-19-related support services to the NHS in the UK, while its Southern African operations saw normalised EBITDA growth of 7.5% to R1.6 billion. Headline earnings per share fell 12.7% to 41.4 cents.
The board approved an interim dividend of 15 cents per share for the period.
Group CEO Peter Wharton-Hood, said "the diminishing disruptions from recent Covid-19 waves, coupled with signs of normality returning, have driven an encouraging recovery in healthcare demand, which is reflected in these results."
"The group remains in a strong financial position, and we have demonstrated our ability to remain resilient during the numerous Covid-19 waves and other challenges including the recent flooding in KwaZulu-Natal… I am confident that Life Healthcare has emerged from the pandemic a more resilient and agile business."
The group's share price was up over 2% in morning trade.