UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 DECEMBER 2023
| % change |
Unaudited six months ended 31 December 2023 R'000 |
Restated* Unaudited six months ended 31 December 2022 R'000 |
Audited year ended 30 June 2023 R'000 |
|
| Revenue from contracts with customers | 1.4 | 4 384 386 | 4 322 145 | 8 868 032 |
|---|---|---|---|---|
| Dividends received | — | — | 105 | |
| Fair value gains | 3 437 | 4 462 | 16 245 | |
| Finance income | 14 043 | 9 085 | 21 745 | |
| Other income | 5 559 | — | 2 570 | |
| Total income | 1.7 | 4 407 425 | 4 335 692 | 8 908 697 |
| Cost of distribution of pharmaceutical products | (33 933) | (42 469) | (78 376) | |
| Cost of pharmaceutical products and finished goods | (999 432) | (973 434) | (2 125 074) | |
| Employee benefit costs | (1 289 458) | (1 168 278) | (2 445 087) | |
| Other expenses | (621 547) | (559 113) | (1 225 988) | |
| Capitation costs | (804 990) | (922 291) | (1 772 982) | |
| Amortisation | (94 805) | (107 047) | (208 823) | |
| Rent and property costs | (57 707) | (49 830) | (109 102) | |
| Right of use assets depreciation | (31 949) | (31 320) | (65 380) | |
| Depreciation | (44 947) | (43 666) | (82 976) | |
| IT costs | (119 992) | (128 710) | (255 701) | |
| Impairment of property and equipment | — | — | (25 000) | |
| Write off of intangibles | — | — | (5 415) | |
| Impairment of loans | (892) | — | (2 115) | |
| Share of profits from associates and joint ventures | 2 505 | 5 325 | 14 051 | |
| Interest on lease liabilities | (8 241) | (7 749) | (16 964) | |
| Finance costs | (39 857) | (36 162) | (77 229) | |
| Profit before tax | (3.2) | 262 180 | 270 948 | 426 536 |
| Income tax expense | 0.9 | (77 204) | (76 504) | (131 654) |
| Profit from continuing operations | (4.9) | 184 976 | 194 444 | 294 882 |
| Loss on disposal of subsidiaries | — | (198) | (198) | |
| Profit for the period | (4.8) | 184 976 | 194 246 | 294 684 |
| Profit for the period attributable to: | ||||
| Owners of Parent | 173 761 | 125 793 | 182 673 | |
| Non-controlling interest | 11 215 | 68 453 | 112 011 | |
| (4.8) | 184 976 | 194 246 | 294 684 | |
| Profit for the period attributable to equity shareholders arises from: | ||||
| Continuing operations | 173 761 | 125 793 | 182 673 | |
| Discontinued operations | — | — | — | |
| 38.1 | 173 761 | 125 793 | 182 673 | |
| Profit for the period | (4.8) | 184 976 | 194 246 | 294 684 |
| Other comprehensive income | ||||
| Components of other comprehensive income that will not be reclassified to profit or loss | — | — | (103) | |
| Remeasurement of post-employment benefit obligations | — | — | (141) | |
| Income tax relating to these items | — | — | 38 | |
| Components of other comprehensive income that will be reclassified to profit or loss | (1 001) | 2 853 | 8 787 | |
| Foreign exchange benefit of continuing operations | 529 | 2 853 | 7 257 | |
| Cash flow hedges | ||||
| (Loss)/gain on cash flow hedges | (1 530) | — | 1 530 | |
| Total other comprehensive (loss)/income net of tax | (1 001) | 2 853 | 8 684 | |
| Total comprehensive income | (6.7) | 183 975 | 197 099 | 303 368 |
| Comprehensive income attributable to: | ||||
| Comprehensive income, attributable to owners of parent | 172 760 | 127 827 | 191 357 | |
| Comprehensive income, attributable to non-controlling interests | 11 215 | 69 272 | 112 011 | |
| 183 975 | 197 099 | 303 368 |
| * | Refer to note 3.2 for details of the restatement. |