Latest news with #R2.8bn
IOL News
26-05-2025
- Business
- IOL News
Life Healthcare Group reports 10. 5% rise in interim divided and plans expansion
Life Healthcare Group, which reported strong operational results for the six months to March 31, 2025 from its network of private hospitals and other healthcare facilities, said the disposal of its Life Molecular Imaging business was expected to be finalised in the second half. Image: Supplied Life Healthcare Group lifted its interim dividend by 10.5% to 21 cents a share in the six months to March 31, and it intends to continue growing its underlying asset base significantly in Southern Africa during the second half. The group, which operates 64 healthcare facilities across South Africa and Botswana, plans to add 58 acute hospital beds and 24 acute rehabilitation beds, and it will start building the new 140-bed Life Paarl Valley Hospital in the Western Cape. A new cath-lab and a new vascular lab will also be added to the acute business, as stated by CEO Peter Wharton-Hood in the results statement. The group will continue to grow its diagnostics business, with further transactions expected to be completed in the second half, as well as the addition of two new PET-CT sites. 'The southern African business will look to drive occupancies to 70%, with paid patient days (PPD) growth expected to be 1.5%. The southern African business will continue to optimise its asset portfolio and focus on operational efficiencies,' he said. Capital expenditure for the 2025 year is expected to be R2.3 billion. The R13.9bn Life Molecular Imaging (LMI) disposal to Lantheus Holdings is also expected to close in the second half. In the six-month period under review, there has been robust activity growth, with paid patient days (PPDs) up by 2% and occupancy at 68.6%. Revenue from continuing operations increased by 8.1% to R12.1bn. Normalised earnings per share increased by 9.1% to 49 cents. Earnings per share (continuing and discontinued operations) decreased to negative 155.2 cents from 242.8 positive cents in the first half of 2024, mainly due to the R2.8bn one-off gain in the first half of 2024 following the completion of the Alliance Medical Group disposal, and a R2.9bn fair value loss on the Piramal contingent consideration in the first half of 2025. The group remains in a strong financial position. As of March 31, 2025, net debt to normalised EBITDA (earnings before interest, tax, depreciation, and amortisation) of 0.65 times is well within the covenant of 3.5 times. Cash from continuing operations was R2bn and represented 105.3% of normalised EBITDA from continuing operations. The strong operating performance for the six-month period, with revenue up by 8.1%, was driven by 'robust activity growth,' benefits from acquisitions concluded in the second half of 2024, and a tariff increase. The acute hospitals delivered strong revenue growth in the period, with PPDs growing by 2% on a like-for-like basis. This translated into a higher occupancy of 68.3% compared to 66.2% in the prior period. The acute hospitals had a strong second quarter, with occupancies over 71%, benefiting from the timing of the Easter and school holidays. Visit:
IOL News
25-04-2025
- Business
- IOL News
Travelers spark rising interest in guest houses and farms
Hotels continue to be the most popular holiday accommodation type, although guest houses and guest farms are catching up with income from the overall sector having exceeded the figure captured just before COVID-19. Hotels continue to be the most popular holiday accommodation type, although guest houses and guest farms are catching up with income from the overall sector having exceeded the figure captured just before Covid-19. This is according to Statistics South Africa's latest print on tourist accommodation, which covers February this year. This data indicates that income from lodgings, on a seasonally adjusted basis, is now at the highest level it has been at since at least January 2020. Between December last year and February 2025, the tourist accommodation sector accounted for R9 billion, with R2.8bn of that amount having been earned in February. Year-on-year, income from accommodation increased by 12.2% in February. This was the result of a 2.4% increase in the number of stay unit nights sold and a 9.5% increase in the average income per stay unit night sold. Over a three-month period (last December to this February) the gain in income was 13.8%. The tourism industry was expected to contribute 8.8% of South Africa's total gross domestic product last year, contributing more to economic growth than transport, mining, and agriculture. Last August, Minister of Tourism, Patricia De Lille, said that South Africa's tourism sector employed 1.46 million people in 2023, a figure that is projected to grow to 2.23 million jobs in 2030.
Zawya
04-03-2025
- Business
- Zawya
South Africa: JSE outshines market indices with stellar 2024 performance
The JSE reported significant earnings growth for its 2024 financial year, despite heightened geopolitical tensions and subdued economic growth in the first half of 2024. The bourse's strong performance was driven by business resilience, stability, and greater revenue diversification across its non-trading business segments. The Group reported an increase in net profit after tax (NPAT) of 10.4% to R918m with a return on equity (ROE) of 20.2%, up from 19.4% in the prior year. The JSE's share price outperformed headline indices, delivering 30% year on year growth during 2024. The JSE continues to be cash-generative with net cash generated from operations of R1.09bn, which enabled the Board to declare an ordinary dividend of 828 cents per share for 2024 (2023: 784 cents), generating a total shareholder return of 40% for the year. 'We recorded revenue growth across most of our asset classes off the back of sustained positive market sentiment following the formation of the Government of National Unity (GNU). Our strategy to build a diversified and resilient exchange group resulted in non-trading income increasing to R1,170m and it now contributes 37.8% of operating income (2023: 36.8%),' said Leila Fourie, JSE Group chief executive officer. 'I am particularly pleased with the structural reductions in our cost base, which helped restrain total expenditure growth to 6.2%. This performance was underpinned by robust and resilient systems and operational processes and uptime of 99.97% across all our systems – above our long-term average.' 'The Group is committed to its growth and diversification strategy. These solid results demonstrate the value of our investments across the value-chain, in our technology and our people, and provide further momentum for future growth,' continued Fourie. Strong cash growth The JSE has exhibited a healthy cash generation and robust balance sheet. At the end of December 2024, the cash balance stood at R2.8bn (including bond investments) with net cash generated from operations at R1.09bn (2023: R1.11bn). Total income increased by 6.5% to R3.167bn which was supported by the diversified asset classes in the business. The diversification of revenues at the bourse protected operating income from a year of muted equity market activity, with most business segments reporting growth in revenue for the financial period. The JSE Investor Services (JIS) revenue was up 20.2%, Primary Markets revenue up by 15.6%, commodity derivatives revenue up 11.6% and revenue from bonds and financial derivatives up 6.6% YoY. The JSE made meaningful strides in driving its strategic priorities in 2024. Uptime across the markets was at an all-time high at 99.97% versus 99.89% in 2023. In line with its technology enablement journey, the bourse has made progress in the modernisation of its BDA system and further launched new technology services such as Colo 2.0. The Group is in the process of developing a central clearing solution for the bond electronic trading platform (ETP). Revenue performance per segment: Capital Markets Primary market: +15.6% to R187m Equity trading: +0.2% to R444m Colocation fees: +10.0% to R47m Equity derivatives trading: -1.9% to R115m Bond and financial derivatives: +6.6% to R139m Commodity derivatives trading: +11.6% to R89m JSE Investor Services (JIS) JIS: +20.2% to R229m Post-Trade Services Clearing and settlement revenue: -0.5% to R409m Back-office services (BDA) revenue: +12.7% to R415m Funds under management revenue: -8.2% to R95m JSE Clear JSE Clear: +5.5% to R118m Information Services: Information Services" +1.1% to R454m 'Our future prospects and long-term strategic objectives are underpinned by operational resilience, diversified revenue streams and innovative technology advances. Building a future-fit and diversified financial market infrastructure backed by innovation and modern infrastructure is the Group's apex focal point,' concluded Fourie. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
04-03-2025
- Business
- Zawya
South Africa: MIC CEO Mary Bomela steps down after 15 years of growth
Mineworkers Investment Company (MIC) has announced that its chief executive officer, Mary Bomela, has stepped down from her role after a 15-year tenure marked by significant growth and strategic expansion. Bomela's leadership has been instrumental in MIC's success, particularly highlighted by the company's strong performance in the 2023/24 financial year. During her time as CEO, MIC's net asset value surged from R2.8bn to R7.8bn, demonstrating the effectiveness of her strategic vision and execution. Over the past three years, MIC has deployed R2bn into new investments, diversifying its portfolio across technology, financial services, and the consumer goods sector. Notably, the company recently added Chill Beverages and Tropic Plastic & Packaging to its investee portfolio. Bomela also championed the empowerment of black-owned businesses through MIC's Khulisani Ventures, an investment vehicle focused on innovative and disruptive South African enterprises with high-growth potential. According to MIC, Bomela's "fearless approach to leadership" was pivotal in driving the company's success. She implemented a new management structure, streamlined operations, and built a high-performing team. Exceptional leadership "Mary has been an exceptional leader and driving force behind MIC's success," said Tshepiso Poho, board chair. "Her leadership has transformed MIC into the respected company it is today, with a strong balance sheet and solid investment track record." Bomela's commitment to empowering women in finance has also left a lasting impact, inspiring future generations of female leaders. Her achievements were recently recognised with a finalist nomination for the RMB Africa's Fearless Thinker Award 2024. "As MIC turns 30, I am proud of what we have achieved together, and I am confident that MIC will continue to thrive under new leadership," said Bomela. "I thank the board, my colleagues, and our investees and business partners for their support and trust over the years." New CEO search The company has initiated a search for a new CEO to ensure a seamless transition. "After 15 remarkable years of dedicated service, we extend our heartfelt gratitude to Mary for her exceptional leadership and vision that have propelled the company to new heights," concluded Poho. "We wish her all the best in their future endeavours. As we embark on a new chapter, we remain committed to ensuring a smooth transition and ongoing success for our organisation.'
