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P/E Ratio   43.86

Release Date: 24/02/2015

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX
MONTHS ENDED 31 DECEMBER 2014


CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

                                                 Unaudited    Unaudited       Audited
                                                 Six months   Six months   Year ended
                                                  31-Dec-14    31-Dec-13   30-June-14
                                                      R’000        R’000         R’000
Current assets                                     158 961       49 759       164 997
Cash and cash equivalents                          141 154       40 239       143 883
Total assets                                       258 317      100 486       247 535
Total equity and liabilities                       258 317      100 486       247 535
Net asset value per share (cents)                    92.31        55.62         89.00
Net tangible asset value per share (cents)           76.19        55.25         80.30

Revenue                                              92 721      74 677       155 791
Gross profit                                         50 755      37 588        84 348
Earnings per share (cents)                           2.33        4.17          6.44
Diluted earnings per share (cents)                   2.33        4.17          6.44

Notes to the statement of comprehensive income
Headline earnings for the period attributable to ordinary
shareholders:
Headline earnings per share (cents)                  2.33         4.17         6.44
Diluted headline earnings per share (cents)          2.33         4.17         6.44
- Total number of shares in issue(‘000)              221 843      90 467       211 615
- Weighted average number of shares (‘000)           221 615      90 467       120 272
- Diluted weighted average number of shares (‘000)   221 843      90 467       120 273
Reconciliation of headline earnings calculation:
Earnings for the period attributable to ordinary     5 174        3 776        7 740
shareholders
Headline earnings for the period attributable to ordinary     
                     5 174       3 776        7 740
shareholders
Cash and cash equivalents at end of year             141 154      40 239       143 883

REVENUE

SOUTH AFRICA                                         13 001         -           7 259
   External revenue                                  13 001         -           7 259

 AUSTRALIA                                           79 720       74 677     148 532
   External revenue                                  79 720      74 677      148 532


During the period under review the company entered into an agreement to develop five day hospitals, one in Gauteng and four in the Western Cape. Construction has commenced on some of these day clinics. The acquisition consideration was settled through the issue of 10 000 000 new shares at an issue price of R1.70 per share.

In Australia, construction of the largest ophthalmic day hospital in the country has commenced. The
six-theatre facility is scheduled for completion towards the end of 2015.

Sundry negotiations with different role players within the day hospital environment are ongoing
and, if successful, will provide Presmed Australia with an improved coverage of specialised day
hospitals in the greater Sydney area. The above initiatives will add further growth opportunities for
the Australian subsidiaries.

The South African activities were focussed mainly on transactions to develop additional day
hospitals, which will be achieved through negotiations with like-minded partners, as outlined in the
pre-listing prospectus.

Management is confident that, by the end of June 2016, the South African subsidiary will be in
control of at least nine day hospitals compared to the current two operational units.

Projects in the pipeline for South Africa include:
- Advanced Durbanville Surgical Centre (under construction, operational Q3 2015);
- Advanced Panorama Surgical Centre (under construction, operational Q1 2016);
- Advanced Soweto Day Hospital (under construction, operational Q1 2016);
- Advanced Knysna Surgical Centre (construction Q1 2015, operational Q1 2016);
- Advanced Waterkloof Somerset Surgical Centre (construction Q1 2015, operational Q1 2016);
- Advanced Worcester Surgical Centre (construction Q1 2015, operational Q1 2016)
- Advanced Groenkloof Surgical Centre (construction Q4 2015, operational Q1 2016)

It should be noted that the R100 million cash raised in conjunction with the listing is held for future
developments which will only start generating income for the group in the next financial year.

Does any1 know why this one is getting hammered ?

Look OK ? and it also started tankin before statement. I had it and sold it ...... thinking, thinking 


INITIAL TRADING STATEMENT


In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed
companies are required to publish a trading statement as soon as they become reasonably certain that the
financial results for the next period to be reported on will differ by more than 20% from those of the
previous corresponding period.

Shareholders are advised that Advanced Health expects to report that earnings and headline earnings per
share for the year ending 30 June 2016, attributable to the parent, will reflect a loss position, although the
total comprehensive income is expected to show a gain due to favourable foreign exchange differences.

The main reason for this movement is due to the Company rolling out its strategy to become the leading
provider of day hospitals in South Africa and Australia, with 9 new day hospitals in various stages of
completion in South Africa and the opening of its new flagship 6 theatre day clinic in Chatswood Sydney,
Australia in January 2016.

As is the nature of the roll out of day hospitals, the initial building development of the hospital takes up to
18 months, depending on circumstances for the completion of the construction and the commissioning
process. These hospitals will then require a settling-in period of up to 36 months before the envisaged
financial advantages fully materialise. In South Africa, the company has already developed and opened 5
new day hospitals as follows:

- Durbanville - operational since August 2015;
- Panorama - operational from January 2016;
- Groenkloof - operational since February 2016;
- Worcester – operational from April 2016; and
- Soweto – operational from May 2016.

Other day hospitals are in various stages of construction or negotiation. This has the impact of the group
carrying substantial costs whilst the operations are established. The company is however starting to see a
significant increase in turnover and number of cases in both South Africa and Australia compared to the
prior comparative period.

Accordingly the earnings and headline earnings per share for the year ending 30 June 2016 is expected to
be a loss and more than 100% lower than the earnings per share of 7.89 cents and headline earnings per
share of 4.00 cents for the comparative year ended 30 June 2015. A further trading update will be provided
at a later stage when more certainty is obtained in terms of the range and numbers.
The financial information on which this trading statement is based has not been reviewed and reported on
by the company’s auditors.

1 June 2016
Johannesburg

....New hospitals - Yes
....Discovery in partnership - Kinda Yes
....alot of sick people - Yes, but if u do not have money, you do not have money
....poor healthcare(not much out there at the moment RE: Day hospitals) - they are building in RSA and Australia

PE : -

The price earnings ratio, often called the P/E ratio or price to earnings ratio, is a market prospect ratio that calculates the market value of a stock relative to its earnings by comparing the market price per share by the earnings per share

It might be that the new figures are not in line with the prospectus issues on listing (I'm too lazy right now to check).

IIRC ... AVL was always a long term play.

Agree - long term play