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UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 DECEMBER 2023
2023
2023

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME


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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.