SUMMARISED AUDITED ANNUAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2024
| % change |
Year ended 30 June 2024 R’000 |
Restated* Year ended 30 June 2023 R’000 |
|
|---|---|---|---|
| Revenue from contracts with customers | 0.4 | 8 794 671 | 8 760 226 |
| Dividends received | — | 105 | |
| Fair value gains | 1 769 | 3 669 | |
| Insurance revenue (NOTE 4) | 96 035 | 82 415 | |
| Insurance finance income (NOTE 4) | 6 731 | 4 092 | |
| Finance income | 31 277 | 21 745 | |
| Other income | 5 187 | 2 570 | |
| Total income | 0.7 | 8 935 670 | 8 874 822 |
| Cost of pharmaceutical products and finished goods | 4.5 | (2 030 276) | (2 125 074) |
| Cost of distribution of pharmaceutical products | (71 624) | (78 376) | |
| Employee benefit costs | (10.4) | (2 699 057) | (2 445 087) |
| Other expenses | (1.2) | (1 131 576) | (1 118 182) |
| Capitation funds | 7.2 | (1 645 000) | (1 772 982) |
| Insurance service expense (NOTE 4) | (90 100) | (73 081) | |
| Amortisation | (192 690) | (208 823) | |
| Rent and property costs | (123 050) | (109 102) | |
| Right-of-use assets depreciation | (52 747) | (65 380) | |
| Depreciation | (94 142) | (82 976) | |
| IT costs | (212 819) | (255 701) | |
| Write-off of intangibles | (6 060) | (5 415) | |
| Impairment of goodwill (NOTE 1) | (230 835) | – | |
| Impairment of investment in associates | (14 661) | – | |
| Impairment of property and equipment | (26 611) | (25 000) | |
| Impairment of loans | (2 158) | (2 115) | |
| Share of (losses)/profits from associates and joint ventures | (9 045) | 14 051 | |
| Interest on lease liabilities | (19 190) | (16 964) | |
| Finance costs | (77 045) | (77 229) | |
| Profit before tax | (51.6) | 206 984 | 427 386 |
| Income tax expense | (0.8) | (132 729) | (131 654) |
| Profit after tax | (74.9) | 74 255 | 295 732 |
| Loss on disposal of subsidiaries | – | (198) | |
| Profit for the year | (74.9) | 74 255 | 295 534 |
| Profit for the year attributable to: | |||
| Owners of Parent | 55 381 | 183 523 | |
| Non-controlling interest | 18 874 | 112 011 | |
| 74 255 | 295 534 | ||
| Profit for the year | (74.9) | 74 255 | 295 534 |
| Other comprehensive income | |||
| Components of other comprehensive income that will not be reclassified to profit or loss | |||
| Total other comprehensive income that will not be reclassified to profit or loss | (52) | (103) | |
| Remeasurement of post-employment benefit obligations | (71) | (141) | |
| Income tax relating to these items | 19 | 38 | |
| Components of other comprehensive income that will be reclassified to profit or loss | |||
| Exchange differences on translation of foreign operations | |||
| Total other comprehensive (loss)/income that will be reclassified to profit or loss | (9 381) | 8 787 | |
| Foreign exchange (loss)/benefit | (7 851) | 7 257 | |
| (Losses)/gains on cash flow hedges | (1 530) | 1 530 | |
| Total other comprehensive (loss)/income | (9 433) | 8 684 | |
| Total comprehensive income | 64 822 | 304 218 | |
| Comprehensive income attributable to: | |||
| Comprehensive income attributable to owners of parent | 45 948 | 192 207 | |
| Comprehensive income attributable to non-controlling interests | 18 874 | 112 011 | |
| 64 822 | 304 218 | ||
| * | Refer to Note 5 for details of the restatement. |