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Johannesburg - Group revenue for Netcare [JSE:NTC] increased 16.1% to R31.78bn for the financial year that ended September 30, the private healthcare provider said on Monday.
Its South African and UK operations grew revenue in their respective local currencies, Netcare said.
Group revenue in 2013 was R27.38bn.
In South Africa, revenue grew 7.4% to R16.27bn in 2014, compared to R15.15bn in 2013.
"The demand for private health care in SA is expected to remain strong, which will support Netcare's growth over the next few years," group CEO Richard Friedland said in a statement.
"We will continue to focus on cost containment and optimisation initiatives to ensure operational excellence, broad-based quality improvement and superior patient care."
He said the South African hospitals and emergency services division was going through a "strong expansionary phase", which included construction of a 100-bed hospital in Pinehaven, west of Johannesburg.
A 170-bed hospital was also being built in Polokwane, and commissioning of both was expected late in the 2015 financial year.
The new Netcare Christiaan Barnard Memorial Hospital in Cape Town was on track to open in 2016.
"Planned capital expenditure for 2015 expansion and upgrade projects in the SA Hospital Division amounts to approximately R2bn and will deliver some 510 new beds, including the newly-acquired Ceres Private Hospital," Friedland said.
The group normalised earnings before interest, tax, depreciation and amortisation increased by 18.3% to R6.87bn compared to R5.8bn in 2013.
"In the SA hospitals and emergency services division, patient days grew by 2.6% and revenue per patient day increased by 6.7%," said Friedland.
The total number of registered beds at year-end increased to 9 424 in 2014 from 9 289 in 2013.
