Abano reports 160 per cent rise in earnings

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

Relevant offers

Industries

Cargo, container increase drives Port Nelson $18 million operating profit NZ renters are shut out of the housing market - Labour 'Bring it on': The Warehouse boss Nick Grayston says to rivals Yahoo nightmare continues for Spark customers Coca-Cola Amatil's new juice factory produces 800,000 bottles a day Dick Smith's demise, strong economy boosts The Warehouse profit A tale of two fridges - the digital divide reaches the kitchen Why building new isn't always the cheaper option Limitless watches clock up crowdfunding cash State houses among star green building projects

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