Abano sees smaller annual sales on strong kiwi dollar, takeover bid hit bottom line

Tue, 18 Mar 2014

March 18 (BusinessDesk) - Abano Healthcare, the healthcare investor, anticipates smaller annual revenue due to the strength of the New Zealand dollar and lower net profit after a failed takeover attempt last year from a consortium which included its biggest shareholder. The Auckland-based company expects net profit of between $4.5 million and $5 million in the year ending May 31, down from a forecast $5.4 million by Grant Samuel in an independent adviser’s report when Abano was facing a takeover in November. The company has previously put a $...

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