Netcare’s Surge: Record Profits, Dividends, and Leadership Shifts Propel South African Healthcare Giant to New Heights

  • Financial Performance: Netcare Limited reports a robust fiscal year, with a 14.5% increase in EBITDA to R4.0 billion.
  • Dividend Declaration: Shareholders to receive a final dividend of 35.0 cents per share, reflecting a 30.0% YoY increase.
  • Leadership Changes: CEO succession plan underway; current CEO, Dr. Richard Friedland, extends term, and new committee appointments announced.

Netcare Limited, a leading healthcare provider in South Africa, has announced robust financial results for the year ending September 30, 2023. The Group’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged by 14.5% to R4.0 billion, showcasing a resilient performance in a challenging economic environment.

Financial Highlights

Revenue and Profit Growth

The Group reported a revenue of R23.7 billion, marking a 9.5% increase compared to the previous year. Operating profit climbed to R2.716 billion, reflecting a notable 19.0% rise. The profit for the year saw a substantial uptick of 27.2%, reaching R1.336 billion.

Earnings and Dividends

Earnings per share (EPS) exhibited strong growth, with basic EPS at 94.5 cents, a remarkable increase of 30.7%. Adjusted Headline Earnings Per Share (HEPS) saw a significant rise of 27.0% to 105.7 cents. Shareholders will be pleased with a total dividend of 65.0 cents per share, reflecting a 30.0% increase from the previous year.

Financial Position

Netcare’s total assets increased to R27.803 billion, demonstrating a growth of 5.8%. The balance sheet remained robust, with total liabilities at R16.762 billion and total shareholders’ equity at R11.041 billion.

Dividend Declaration

The company declared a gross final dividend of 35.0 cents per ordinary share for the year ended September 30, 2023. The dividend, payable to shareholders recorded on January 26, 2024, will be subject to a local dividend withholding tax of 20%.

Leadership Changes

In an announcement that will shape the company’s future, Netcare revealed changes in its executive leadership and board sub-committees.

CEO Succession Plan

After an extensive search, a preferred CEO candidate has been identified. However, due to the candidate’s unavailability for an extended period, details remain confidential at this stage. Dr. Richard Friedland, the current CEO, has agreed to continue in this role beyond September 2024 for an additional six months at the Board’s request.

Board Committee Appointments

Effective January 1, 2024, Mr. I Kirk assumes the role of Chairperson for the Risk Committee and joins the Remuneration Committee as a member. Mr. A Maditse also joins the Nominations Committee as a member. Furthermore, as of February 5, 2024, Ms. L Stephens will become the Chairperson of the Remuneration Committee.

Dividend Details and Key Dates

The final dividend of 35.0 cents per ordinary share is payable to shareholders on January 29, 2024. Shareholders not exempt from dividend withholding tax will receive a net final dividend of 28.0 cents per ordinary share.

Salient Dates:

  • Last day to trade cum dividend: January 23, 2024
  • Trading ex-dividend commences: January 24, 2024
  • Record date: January 26, 2024
  • Payment date: January 29, 2024

Share certificates may not be dematerialized nor rematerialized between January 24 and January 26, 2024, inclusive.


Netcare Limited’s robust financial performance and strategic leadership changes position the company for continued success. Shareholders, stakeholders, and the South African healthcare sector will closely watch the unfolding developments at Netcare as the company navigates its next chapter.

Visited 1 times, 1 visit(s) today

Stay ahead in the financial world – Sign Up to Rateweb’s essential newsletter for free. Get the latest insights on business trends, tech innovations, and market movements, directly to your inbox. Join our community of savvy readers and never miss an update that could impact your financial decisions.

Do you have a news tip for Rateweb reporters? Please email us at


Start trading with a free $30 bonus

Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. For all clients who open their first real account, XM offers a $30 trading bonus without any initial deposit needed. Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices.


Personal Financial Tools

Below is a list of tools built to assist South Africans to make the best financial decisions:



South Africa’s primary source of financial tools and information

Contact Us


Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.