Audited final result
for the year ended 30 June 2021
Summarised Consolidated Statement of Financial Position
| Audited year ended 30 June 2021 R'000 |
Audited year ended 30 June 2020 R'000 |
Restated Audited year ended 30 June 2019 R'000 |
Audited year ended 30 June 2018 R'000 |
Audited year ended 30 June 2017 R'000 |
|
| ASSETS | |||||
| Non-current assets | 3 808 789 | 3 539 167 | 3 364 615 | 2 306 326 | 1 927 272 |
| Property and equipment | 369 065 | 210 583 | 220 409 | 375 649 | 211 704 |
| Right of use Asset | 176 924 | 234 980 | 290 136 | – | – |
| Land and buildings | 321 504 | 261 374 | 196 149 | – | – |
| Investment property | 7 765 | 15 418 | 15 418 | 15 418 | 15 418 |
| Intangible assets | 2 782 866 | 2 695 187 | 2 556 012 | 1 739 086 | 1 463 746 |
| Available for sale investment | – | – | – | 9 000 | 18 444 |
| Listed investments | – | – | – | – | 36 296 |
| Managed funds and deposits | – | – | – | 65 028 | 59 976 |
| Other investments | 29 661 | 3 711 | – | – | – |
| Investments in associates and joint ventures | 31 541 | 33 307 | 29 943 | 56 935 | 38 823 |
| Deferred income tax assets | 89 463 | 84 607 | 56 548 | 45 210 | 82 865 |
| Current assets | 1 305 577 | 1 007 999 | 1 117 899 | 823 735 | 1 141 608 |
| Trade and other receivables | 503 270 | 504 335 | 531 494 | 348 527 | 320 236 |
| Inventory | 421 563 | 297 851 | 283 732 | 83 532 | 73 376 |
| Current tax asset | 32 560 | 28 133 | 37 377 | 20 768 | 25 235 |
| Receivables from associates and joint ventures | – | – | – | 5 740 | 13 388 |
| Other investments | 149 244 | – | – | – | – |
| Cash, managed funds and deposits | 198 940 | 177 680 | 265 296 | 365 168 | 709 373 |
| Total assets | 5 114 366 | 4 547 166 | 4 482 514 | 3 130 060 | 3 068 880 |
| EQUITY AND LIABILITIES | |||||
| Capital and reserves | 2 326 972 | 2 216 604 | 2 095 283 | 1 940 614 | 1 793 694 |
| Issued ordinary share capital | 18 892 | 18 885 | 18 885 | 18 686 | 18 686 |
| Share premium | 1 084 696 | 1 080 301 | 1 080 301 | 999 058 | 999 058 |
| Share-based payment reserve | 26 802 | 20 417 | 11 286 | 3 501 | – |
| Treasury shares | (2 324) | (2 324) | (2 324) | (2 324) | (2 324) |
| Foreign currency translation reserve | (6 139) | (14 632) | (3 114) | 793 | 3 454 |
| Capital contribution by non-controlling interest | 55 874 | 55 874 | 55 874 | 55 874 | – |
| Distributable reserves | 1 149 171 | 1 058 083 | 934 376 | 865 026 | 774 820 |
| Non-controlling interest | 928 752 | 902 491 | 787 713 | 679 277 | 585 359 |
| Total equity | 3 255 724 | 3 119 095 | 2 882 996 | 2 619 891 | 2 379 053 |
| Non-current liabilities | 1 072 665 | 705 492 | 881 194 | 153 860 | 135 778 |
| Deferred income tax liabilities | 250 040 | 246 809 | 230 229 | 121 667 | 100 627 |
| Non-current borrowings | 655 785 | 266 311 | 371 566 | – | – |
| Non-current provisions | 8 350 | 8 350 | 8 350 | 8 350 | 8 350 |
| Post-employment medical obligations | 2 137 | 2 595 | 2 611 | 2 665 | 2 771 |
| Lease liability | 156 353 | 181 427 | 261 104 | – | – |
| Deferred payment | – | – | 7 335 | 5 263 | 5 051 |
| Accrual for straight lining of leases | – | – | – | 15 915 | 18 979 |
| Current liabilities | 785 977 | 722 579 | 718 324 | 356 309 | 554 049 |
| Provisions | 11 269 | 8 374 | 9 606 | 8 598 | 8 947 |
| Borrowings | 120 000 | 120 000 | 120 000 | – | – |
| Lease liability | 63 764 | 96 855 | 61 551 | – | – |
| Second tranche payment | – | – | – | – | 194 475 |
| Trade and other payables | 436 520 | 361 488 | 406 230 | 284 028 | 264 394 |
| Taxation | 23 808 | 33 086 | 32 279 | 13 729 | – |
| Employment benefit provisions | 130 616 | 102 776 | 88 659 | 49 955 | 86 233 |
| Total liabilities | 1 858 642 | 1 428 071 | 1 599 518 | 510 169 | 689 827 |
| Total equity and liabilities | 5 114 366 | 4 547 166 | 4 482 514 | 3 130 060 | 3 068 880 |
Summarised consolidated Statement of Comprehensive Income
| Audited year ended 30 June 2021 R'000 |
Audited year ended 30 June 2020 R'000 |
Restated Audited year ended 30 June 2019 R'000 |
Audited year ended 30 June 2018 R'000 |
Restated Audited year ended 30 June 2017 R'000 |
Audited year ended 30 June 2016 R'000 |
|
| Healthcare service revenue | 3 834 256 | 3 282 853 | 3 258 658 | 2 910 702 | 2 715 266 | 2 399 669 |
|---|---|---|---|---|---|---|
| Healthcare service operating costs | (3 108 650) | (2 653 269) | (2 710 237) | (2 355 416) | (2 219 292) | (2 055 514) |
| Healthcare service operating profit | 725 606 | 629 584 | 548 421 | 555 286 | 495 974 | 344 155 |
| Healthcare retail revenue | 4 240 162 | 3 136 059 | 2 038 135 | 1 302 003 | 1 069 435 | 748 477 |
| Healthcare retail cost of sales | (3 438 009) | (2 477 796) | (1 641 279) | (914 305) | (836 734) | (588 204) |
| Healthcare retail operating costs | (495 589) | (404 491) | (267 622) | (319 898) | (164 566) | (128 067) |
| Healthcare retail gross profit | 306 564 | 253 772 | 129 233 | 67 800 | 68 135 | 32 206 |
| Total healthcare operating profit | 1 032 170 | 883 356 | 677 654 | 623 086 | 564 109 | 376 361 |
| IFRS 16: Lease reversals | 86 456 | 85 460 | 94 418 | – | – | – |
| Total healthcare operating profit (Including lease reversals) | 1 118 626 | 968 816 | 772 073 | 623 086 | 564 109 | 376 361 |
| Other income | 1 747 | – | – | – | – | – |
| Profit/(loss) on sale of investments | 1 314 | – | – | (2 717) | – | – |
| Fair value gains or losses | (6 307) | 183 | – | – | – | – |
| Loss on disposal of intangible assets | (26 793) | – | (40 000) | – | – | – |
| Fair value gain on investment disposal | – | – | 118 715 | – | – | – |
| Impairment of assets and loans | (10 378) | (2 919) | (68 587) | (1 667) | (19 851) | (21 469) |
| Net finance and investment income | (36 498) | (45 224) | (14 891) | 43 481 | 16 106 | 29 964 |
| – Finance and investment income | 20 595 | 26 503 | 37 524 | 45 343 | 62 773 | 59 471 |
| – Finance costs : Lease liability | (21 420) | (27 839) | (31 822) | – | – | – |
| – Finance cost : Conditional put option | – | – | – | – | (45 906) | (24 960) |
| – Finance cost | (35 673) | (43 888) | (20 593) | (1 862) | (761) | (4 547) |
| Share-based payment expense | (10 694) | (8 876) | (7 785) | (3 501) | (2 096) | (6 444) |
| Fair value of second tranche consideration | – | – | – | – | (59 582) | – |
| Indemnity expense | – | – | – | (3 150) | (14 787) | – |
| Share of profits from associates and joint ventures | 8 294 | 7 990 | 18 479 | 23 626 | 14 306 | 10 118 |
| Profit before depreciation and amortisation | 1 039 311 | 919 970 | 778 004 | 679 158 | 498 205 | 388 530 |
| Right of use asset Depreciation | (66 564) | (71 026) | (82 666) | – | – | – |
| Depreciation | (78 202) | (62 179) | (55 909) | (51 109) | (45 098) | (38 011) |
| Amortisation of intangible assets | (195 027) | (164 091) | (110 941) | (89 603) | (86 450) | (79 332) |
| Profit before income taxation | 699 518 | 622 674 | 528 488 | 538 446 | 366 657 | 271 187 |
| % change | ||||||
| 2021/20 | 2020/19 | 2019/18 | 2018/17 | 2017/16 | CAGR | |
| Healthcare service revenue | 16.8% | 0.7% | 12.0% | 7.2% | 13.2% | 8.1% |
|---|---|---|---|---|---|---|
| Healthcare service operating costs | – | – | – | – | – | – |
| Healthcare service operating profit | 15.3% | 14.8% | (1.2%) | 12.0% | 44.1% | 13.2% |
| Healthcare retail revenue | 35.2% | 53.9% | 56.5% | 21.7% | – | – |
| Healthcare retail cost of sales | – | – | – | – | – | – |
| Healthcare retail operating costs | – | – | – | – | – | – |
| Healthcare retail gross profit | 20.8% | 96.4% | 90.6% | (0.5%) | – | – |
| Total healthcare operating profit | 16.8% | 30.4% | 8.8% | 10.5% | 49.9% | 18.3% |
| IFRS 16: Lease reversals | – | – | – | – | – | – |
| Total healthcare operating profit (Including lease reversals) | – | – | – | – | – | |
| Other income | – | – | – | – | – | – |
| Profit/(loss) on sale of investments | – | – | – | – | – | – |
| Fair value gains or losses | – | – | – | – | – | – |
| Loss on disposal of intangible assets | – | – | – | – | – | – |
| Fair value gain on investment disposal | – | – | – | – | – | – |
| Impairment of assets and loans | – | – | – | – | – | – |
| Net finance and investment income | – | – | – | – | – | – |
| – Finance and investment income | – | – | – | – | – | – |
| – Finance costs : Lease liability | – | – | – | – | – | – |
| – Finance cost : Conditional put option | – | – | – | – | – | – |
| – Finance cost | – | – | – | – | – | – |
| Share-based payment expense | – | – | – | – | – | – |
| Fair value of second tranche consideration | – | – | – | – | – | – |
| Indemnity expense | – | – | – | – | – | – |
| Share of profits from associates and joint ventures | – | – | – | – | – | – |
| Profit before depreciation and amortisation | 13.0% | 18.2% | 14.6% | 36.3% | 28.2% | 17.8% |
| Right of use asset Depreciation | – | – | – | – | – | – |
| Depreciation | – | – | – | – | – | – |
| Amortisation of intangible assets | – | – | – | – | – | – |
| Profit before income taxation | 12.3% | 17.8% | (1.8%) | 46.9% | 35.2% | 17.1% |