The Life Healthcare share price took a significant knock in early trade yesterday, falling by as much as 9%. This happened after the hospital group released a trading statement detailing a multi-billion Rand adjustment to its financial liabilities. Investors reacted sharply to news that an R2.9bn adjustment related to the “Piramal liability” had heavily impacted profit from continuing operations. This…
Tag: Finance
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Ascendis Health Exits JSE and Positions for Growth
Ascendis Health has confirmed its plan to delist from the JSE in the first week of December, following an overwhelming mandate from its investors. This decision marks the culmination of the company’s significant turnaround strategy. Not long ago, it faced the prospect of bankruptcy. A resounding 93% of the company’s shareholders voted in favour of the move. This provides CEO…
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Discovery Group’s Strong Growth Delivers 30% Profit Surge
Discovery Group has reported a robust financial performance for the year ending in June. It showcased the Discovery Group’s strong growth with a 30% increase in headline earnings to R9.6 billion. A key milestone in the results was Discovery Bank achieving its first profitable period in the second half of the year. This was a significant achievement reached ahead of…
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Novo Nordisk Hiring Freeze After Wegovy Sales Decline
Danish pharmaceutical giant Novo Nordisk, which rode a wave of unprecedented success with its weight-loss drug Wegovy, has announced a global hiring freeze for non-critical roles. This signals a dramatic shift from rapid expansion to rigorous cost-cutting. Sales begin to slow and competition intensifies. Novo Nordisk’s hiring freeze is a significant turn for the company. The Wegovy Hiring Spree The…
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NHI’s absence from budget raises questions about its future
While Budget 2025 covered numerous sectors, the notable absence of National Health Insurance (NHI) from Finance Minister Enoch Godongwana’s speech has sparked significant discussion. Despite its omission from the speech, references to NHI are present within the medium-term expenditure framework, signalling its continued, albeit challenged, presence in the government’s long-term plans. NHI: More aspiration than reality? Craig Comrie, CEO of…
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Gauteng health department criticised over unpaid gas bills
The Gauteng health department is again facing severe criticism. Its ongoing financial troubles have disrupted essential gas supplies at two major hospitals. Charlotte Maxeke Johannesburg Academic Hospital and Rahima Moosa Mother and Child Hospital experienced gas supply interruptions from Egoli Gas due to unpaid bills, jeopardising patient care. The crisis stems from the department’s failure to settle a R15 million…
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Discovery reports a 34% increase in first-half earnings
Discovery has revealed a robust 34% increase in its first-half headline earnings, showcasing its strong growth trajectory. This surge is primarily attributed to the exceptional performance of its South African health insurance division and the globally recognised Vitality programme. Key Financial Highlights: Headline Earnings: Increased by 34% to R4.35 billion (£234 million) for the six months ending December, rising from…