Tue. Jan 19th, 2021

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Profits of Netcare higher as pandemic raises

1 min read
Netcare Hospita, South Africa

Net Care Hospita, South Africa

South African private hospital group Netcare Ltd said on Tuesday its core earnings halved for the 11 months to September due to fewer patient visits and costs related to hospital services during COVID-19 lockdowns.

The company said its earnings before income tax depreciation and amortization (EBITDA) slumped by 50.8% during the period, while group revenue fell 12.9%.

“The most severe impact of COVID-19 was experienced in April 2020 during South Africa’s national Level 5 lockdown, which adversely affected non-urgent surgery and medical and trauma cases,” Netcare said.

Services for respiratory cases, emergency and trauma admissions fell sharply during various stages and degrees of curbs in South Africa, which affected footfall and its service mix, the company said.

However, spending on strategic projects continued during the period and Netcare said its total spend for 2020 would be about 1 billion rand ($58 million), hitting its margins.

The company said its EBITDA margin was also pressured by additional costs of 219 million rand to adapt to disruptions caused by the pandemic.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.