SUMMARISED AUDITED ANNUAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2024
| Growth 2024 | 30 June 2024 | Restated* 30 June 2023 |
||||||
| Revenue % |
Operating profit % |
Revenue R’000 |
Operating profit R’000 |
Operating margin % |
Revenue R’000 |
Operating profit R’000 |
Operating margin % |
|
|---|---|---|---|---|---|---|---|---|
| Healthcare SA | 7 | (8) | 4 146 192 | 328 345 | 8 | 3 879 771 | 357 337 | 9 |
| DENIS Group | 1 | 1 | 569 479 | 54 097 | 9 | 566 127 | 53 308 | 9 |
| Information Technology | (2) | 18 | 635 625 | 213 352 | 34 | 651 877 | 180 784 | 28 |
| Total SA administration business | 5 | 0.5 | 5 351 323 | 595 794 | 11 | 5 097 775 | 591 429 | 12 |
| Healthcare Africa | 6 | (12) | 249 355 | 83 903 | 34 | 234 835 | 95 142 | 41 |
| Total Group administration business | 5 | (1) | 5 600 678 | 679 697 | 12 | 5 332 610 | 686 571 | 13 |
| Healthcare Retail | (5) | 7 | 4 251 575 | 210 646 | 5 | 4 464 341 | 196 323 | 4 |
| Pharmacy Direct & Curasana Wholesaler | 6 | 2 | 1 825 104 | 81 125 | 4 | 1 728 754 | 79 715 | 5 |
| Activo Group | 6 | (18) | 1 080 365 | 75 965 | 7 | 1 019 098 | 93 087 | 9 |
| Scriptpharm | (9) | 34 | 1 346 106 | 53 556 | 4 | 1 475 358 | 39 833 | 3 |
| Mmed | — | — | — | — | — | 241 131 | (16 312) | (7) |
| Total Healthcare | 1 | 1 | 9 852 253 | 890 343 | 9 | 9 796 951 | 882 894 | 9 |
| Other (including inter-segment elimination) | 1 | — | (961 547) | — | — | (954 310) | — | — |
| Total | 1 | 1 | 8 890 706 | 890 343 | 10 | 8 842 641 | 882 894 | 10 |
| * | Refer to Note 5 for details on the restatements. |
| Growth 2024 | 30 June 2024 | Restated* 30 June 2023 |
||||||||
| Profit before tax % |
Profit after tax % |
Profit before tax R’000 |
Profit after tax R’000 |
Net margin % |
Total assets R’000 |
Profit before tax R’000 |
Profit after tax R’000 |
Net margin % |
Total assets % |
|
|---|---|---|---|---|---|---|---|---|---|---|
| Healthcare SA | (4) | (9) | 170 095 | 102 729 | 2 | 1 994 840 | 177 991 | 112 458 | 3 | 1 575 957 |
| DENIS Group | 7 | (5) | 54 464 | 37 187 | 7 | 161 028 | 50 777 | 39 166 | 7 | 163 428 |
| Information Technology | 161 | 171 | 20 812 | 24 342 | 4 | 1 389 280 | (34 397) | (34 178) | (5) | 1 605 207 |
| Total SA administration business | 26 | 40 | 245 371 | 164 258 | 3 | 3 545 148 | 194 371 | 117 446 | 6 | 3 344 592 |
| Healthcare Africa | (10) | (13) | 81 184 | 56 259 | 23 | 192 638 | 90 108 | 64 826 | 28 | 191 515 |
| Total Group administration business | 15 | 21 | 326 555 | 220 517 | 4 | 3 737 786 | 284 479 | 182 272 | 6 | 3 536 107 |
| Healthcare Retail | 18 | 29 | 159 928 | 117 695 | 3 | 1 768 058 | 135 394 | 91 500 | 5 | 1 759 636 |
| Pharmacy Direct & Curasana Wholesaler | 49 | 66 | 64 178 | 49 230 | 3 | 894 141 | 43 098 | 29 718 | 2 | 882 877 |
| Activo Group | (54) | (57) | 32 325 | 22 664 | 2 | 787 974 | 70 851 | 52 417 | 5 | 693 658 |
| Scriptpharm | 32 | 30 | 63 425 | 45 801 | 3 | 85 943 | 47 959 | 35 160 | 2 | 183 101 |
| Mmed | — | — | — | — | — | — | (26 514) | (25 795) | (11) | — |
| Total Healthcare | 16 | 24 | 486 483 | 338 212 | 3 | 5 505 844 | 419 873 | 273 772 | 6 | 5 295 743 |
| Other (including inter-segment elimination)** | (3 820) | (1 302) | (279 499) | (263 957) | 27 | (96 289) | 7 513 | 21 960 | 6 | 264 487 |
| Total | (52) | (75) | 206 984 | 74 255 | 1 | 5 409 555 | 427 386 | 295 732 | 6 | 5 560 230 |
| * | Refer to Note 5 for details on the restatements. |
| ** | During the year, partial impairment of goodwill to the value of R230 million was recognised on some of the pharmaceutical assets (Activo Health, Forrester Pharma, Pharmacy Direct, and Curasana Wholesaler) was recognised. Refer to Note 1). |
| The goodwill impairment was necessitated by adverse price adjustments in some of the main product lines of the pharmaceutical cluster that have had a negative impact on profitability in the current year and is expected to continue into the medium term, synergies and expected growth in new pharmaceutical product lines that is lagging on the original acquisition assessments of these assets, as well as the anticipated reduction in profitability pursuant to the lower margins in both the private sector delivery market as well as the chronic medication delivery contract with the public sector. | |
| These impairments are recognised at Group and not at segmental level. |
| Composition of operating profit – % contribution | Operating profit June 2024 % |
Restated* Operating profit June 2023 % |
Operating profit June 2024 R’000 |
Restated* Operating profit June 2023 R’000 |
|---|---|---|---|---|
| Total SA Administration business | 68 | 67 | 595 794 | 591 429 |
| Healthcare Africa | 9 | 11 | 83 903 | 95 142 |
| Healthcare Retail | 24 | 22 | 210 646 | 196 323 |
| 100 | 100 | 890 343 | 882 894 | |
| * | Refer to Note 5 for details on the restatements. |