Commentary
Group financial review
Netcare delivered strong results in the year under review reflecting continued healthcare demand and the defensive nature of healthcare despite the global economic downturn.
Group revenue rose 6.9% to R23 232 million (2008: R21 735 million), supported by higher demand for private healthcare services in SA. The UK showed solid growth and benefited from the inclusion of newly acquired hospitals and the inclusion of Nuffield hospitals for the full 12 months.
The Group operating margin increased from 15.5% to 15.9%, largely due to strong patient volumes and efficiency improvements. The margin translated into 9.8% growth in Group operating profit to R3 700 million (2008: R3 370 million).
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