ANNUAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2023
| % change |
Year ended 30 June 2023 R'000 |
Restated* Year ended 30 June 2022 R'000 |
|
| Revenue from contracts with customers | 2.0 | 8 868 032 | 8 693 217 |
|---|---|---|---|
| Dividends received | 105 | — | |
| Fair value gains | 16 245 | 6 369 | |
| Finance income | 21 745 | 14 996 | |
| Other income | 2 570 | 563 | |
| Total income | 2.2 | 8 908 697 | 8 715 145 |
| Cost of distribution of pharmaceutical products | (78 376) | (98 694) | |
| Cost of pharmaceutical products and finished goods | (2 125 074) | (2 025 676) | |
| Employee benefit costs | (2 445 087) | (2 340 458) | |
| Other expenses | (1 225 988) | (1 028 724) | |
| Capitation costs | (1 772 982) | (1 851 342) | |
| Amortisation | (208 823) | (231 269) | |
| Rent and property costs | (109 102) | (95 137) | |
| Right of use assets depreciation | (65 380) | (61 606) | |
| Depreciation | (82 976) | (87 138) | |
| IT costs | (255 701) | (145 734) | |
| Impairment of property and equipment | (25 000) | — | |
| Write off of intangibles | (5 415) | (635) | |
| Impairment of loans | (2 115) | (3 203) | |
| Share of profits from associates and joint ventures | 14 051 | 6 991 | |
| Interest on lease liabilities | (16 964) | (18 781) | |
| Finance costs | (77 229) | (57 049) | |
| Profit before tax | (37.0) | 426 536 | 676 690 |
| Income tax expense — continuing operations | 31.1 | (131 654) | (190 963) |
| Profit from continuing operations | (39.3) | 294 882 | 485 727 |
| Loss from discontinued operations (NOTE 3) | — | (6 937) | |
| Loss on disposal of subsidiaries (NOTE 3) | (198) | — | |
| Profit for the year | (38.5) | 294 684 | 478 790 |
| Profit for the year attributable to: | |||
| Owners of Parent | 182 673 | 312 804 | |
| Non-controlling interest | (32.5) | 112 011 | 165 986 |
| 294 684 | 478 790 | ||
| Profit for the year attributable to equity shareholders arises from: | |||
| Continuing operations | 182 673 | 319 741 | |
| Discontinued operations | — | (6 937) | |
| 182 673 | 312 804 |
| * | Refer to Note 5 for details of the restatement. |
| % change |
Year ended 30 June 2023 R'000 |
Restated* Year ended 30 June 2022 R'000 |
|
| Profit for the year | 294 684 | 478 790 | |
|---|---|---|---|
| Other comprehensive income | |||
| Components of other comprehensive income that will not be reclassified to profit or loss | (103) | (18) | |
| Remeasurement of post-employment benefit obligations | (141) | (24) | |
| Income tax relating to these items | 38 | 6 | |
| Components of other comprehensive income that will be reclassified to profit or loss | 8 787 | 1 519 | |
| Exchange differences on translation of foreign operations | |||
| Foreign exchange benefit of continuing operations | 7 257 | 1 519 | |
| Cash flow hedges | |||
| Gains on cash flow hedges | 1 530 | — | |
| Total other comprehensive income net of tax | 8 684 | 1 501 | |
| Total comprehensive income | (36.8) | 303 368 | 480 291 |
| Comprehensive income attributable to: | |||
| Comprehensive income, attributable to owners of parent | 191 357 | 313 869 | |
| Comprehensive income, attributable to non-controlling interests | 112 011 | 166 422 | |
| 303 368 | 480 291 |
| * | Refer to Note 5 for details of the restatement. |