Latest news with #R1.5bn
TimesLIVE
19-05-2025
- Business
- TimesLIVE
Netcare invests in expanding mental health facilities
Private hospital group Netcare will build a new mental health care facility in Pretoria as the demand for the service continues to grow. 'In response to the increasing need for mental health support in the broader Tshwane region, the group will be commissioning the new Netcare Akeso Montana facility (88 beds) in October 2026. Furthermore, the Netcare Akeso Alberlito facility (80 beds) is scheduled to open its doors in March 2027, strengthening the group's national footprint and reinforcing its dedication to meeting the mental healthcare needs of communities across South Africa,' it said. It is also building a new Akeso hospital in Polokwane, which will have 87 beds. Netcare said demand for quality mental healthcare services 'continues to grow and the group remains committed to expanding access and pursuing new opportunities in this vital space'. On Monday, the company reported adjusted headline earnings per share increased by 20% to 58.8c for the six months to March and a 5.3% increase in total revenue to R12.6bn. The company declared an interim dividend of 36c per share. Total capital expenditure, including strategic projects, was R434m. Total capital expenditure for the 2025 full financial year is estimated at R1.5bn. The company has embarked on a digital strategy aimed at improving efficiencies and reshaping the way it delivers health and care. The current rollout phase will see the group developing capabilities in predictive analytics and have made significant progress, with the South African Health Products Regulatory Authority approving algorithm for the early detection of sepsis (blood stream infections) in ICU patients. 'This innovation enables earlier clinical interventions and meaningfully enhances patient care and outcomes. In addition, an advanced analytics platform has been deployed, equipping clinical teams with real-time, actionable insights. Beyond the substantial clinical and patient benefits, this capability positions the group to reduce the cost per clinical event, reduce morbidity and mortality rates and improve overall efficiency,' said CEO Dr Richard Friedman. The next phase of the digital transformation focuses on 'person-centred health and care' and is being rolled out over the next three to four years. 'This initiative will empower patients with direct access to their health records, enabling more meaningful engagement in their care journey and ensuring care delivery is deeply aligned with their individual needs and preferences,' he said.
TimesLIVE
15-05-2025
- Business
- TimesLIVE
KZN transport MEC raises alarm over R1.5bn payment delays to service providers
KwaZulu-Natal's MEC for transport and human settlements Siboniso Duma has voiced concerns over payment delays amounting to more than R1.5bn, affecting more than 2,000 construction companies and service providers across the province. In a media statement, Duma said the delays were the result of technical glitches stemming from the implementation of a new version of the Standard Chart of Accounts (SCOA V6), introduced by the National Treasury on April 1. The system replaces SCOA V5, which had been in use since 2017. 'In particular, we are extremely worried about the delays in the payment of service providers who are rendering services to the department across all corners of the province. To date, there are pending payments for more than 2,000 service providers in our system, totalling more than R1.5bn,' said Duma. According to Duma, payments have been delayed since January, affecting road and bridge construction firms, public transport service providers and numerous small businesses that rely on government contracts for their livelihoods. 'About R600m is waiting to be cleared this week, and the balance of R700m is to be cleared over the next two weeks,' he said. The delays are not only affecting cash flow for businesses but are also threatening to stall vital infrastructure projects.
Zawya
05-03-2025
- Business
- Zawya
South Africa: RCL Foods posts profit surge, resumes dividends
South African food producer RCL Foods reported a 38.8% rise in half-year earnings on Monday, 3 March 2025, and declared its first interim dividend in two years, sending its shares up more than 8%. The company, whose brands include Selati sugar and Sunbake bread, had been completing a portfolio review that included selling its frozen food business Vector Logistics and spinning off and listing its Rainbow Chicken poultry unit. During that review, and while grappling with depressed consumer demand, it withheld paying dividends, with the last interim dividend declared for the six months to December 2021, which it paid in 2022. With the processes concluded, the board declared an interim dividend of 20c per share for the six months ended December 2024. RCL said its headline earnings per share from continuing operations rose to 109.4 South African cents in the period. Its earnings before interest, taxes, depreciation, amortisation and impairments (EBITDA) jumped 25.1% to R1.5bn, supported by cost savings and production efficiencies. RCL said it has begun to see some welcome price relief in certain commodities such as wheat, contributing to improved margins in its groceries and baking businesses, though prices remain elevated. Group revenue rose 5.4% to R13.6bn. With the portfolio review now complete, chief financial officer, Rob Field told Reuters the group is quite settled with the remaining portfolio, but did not rule out further acquisitions. "We're very clear going forward that if opportunities present themselves in the branded food space, we're going to look closely at that because that's the closest to a strategic fit and what we believe we can add the most value to," Field said. RCL will no longer be chasing any commodity type businesses, Field added. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
