JOHANNESBURG - South Africa's second largest private hospital operator Life Healthcare said its revenue grew by 12.9 percent to R23.5 billion in the year ended September, while headline earnings per share were up 40.6 percent to 108.8 cents.
The company said it continued to diversify its revenue streams, with 35 percent of group revenue coming from outside the acute hospital business compared to 28 percent in 2017.
"The southern African operations returned to positive paid patient day (PPD) growth and continued to benefit from the strategy of expanding the complementary services business," it said.
In the group’s international operations, Scanmed S.A. continued with its business turnaround and performed in line with the first half and Alliance Medical Group also delivered a good performance.
In southern Africa, Life Healthcare said it expected PPDs to continue to grow conservatively with continued good growth in complementary and healthcare services.
"The group will continue to take a cautious approach with regard to bed expansion, adding 80 greenfield mental health beds in Q2 2019 to facilitate the growing demand in this business," it said.
"Capex for the year is expected at approximately R1.2 billion. "