Abano reports 160 per cent rise in earnings

JASON KRUPP
Last updated 05:00 22/12/2012

Relevant offers

Industries

Expansion planned for Tawa's Outlet City NZ economy could suffer from plummeting Chinese sharemarket - Greece little risk Snapper your Wellington bus fare using Semble's Android phone app Big power companies fail to spark in satisfaction survey Summerset Group's set retirement village sales record Oil exploration surveys targeted by Taranaki environment group Debts pile up as company director can't be found Australian consumer watchdog scrutinises Monster Slide 8000 washing machines unaccounted for after West Coast fire Craft beer could be the next boom for New Zealand

Private medical chain owner Abano Healthcare has reported a 160 per cent increase in interim earnings, with the firm's ongoing acquisition spree continuing to drive earnings.

The firm reported a net profit of $1.5 million for the six months to November 30, up from $600,000 in the same period a year ago, meeting guidance issued in October.

"Our businesses have performed well over the six-month period, and we are now realising some of the early benefits from our accelerated dental acquisition programme and the investment into our dental and radiology businesses during FY12 and the first six months of FY13," said managing director Alan Clarke.

Revenue rose to $107.9m, up from $102m a year earlier, boosted by the 19 dental practices it acquired in New Zealand and Australia since June 1, which equates to about one acquisition every two weeks.

The firm said it saw further potential for expansion in the $7 billion-a-year dental market, with only about 10 per cent currently corporatised.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content