Pandemic deals over R18m revenue blow to Netcare

File: Netcare reports that group revenue decreased by 12.7 percent on a year-on-year basis. AFP/Gulshan Khan

JOHANNESBURG - Netcare’s financial year results for 2020 can be described as a “tale of two different halves”. 

Non-emergency procedures account for the largest part of its business but they've been postponed due to coronavirus.

READ: COVID-19: Decline in hospital admissions costs Netcare millions

This dealt a huge blow to the third largest JSE-listed healthcare provider.

Netcare reports that group revenue decreased by 12.7 percent on a year-on-year basis.

READ: Netcare denies COVID-19 positve doc was allowed back to work

Adjusted headline earnings declined more than 72 percent to 47.6 cents a share.

The group's concerned about the prospect of a second wave of infections in the Eastern Cape.

Source
eNCA

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