Acurity Health 1H earnings fall 25 percent as Bowen upgrade costs weigh; warns on annual profit

Sun, 04 Nov 2012

By Paul McBeth Nov. 5 (BusinessDesk) - Acurity Health, the private hospital operator formerly known as Wakefield Health, reported a 25 percent drop in first-half earnings as the cost of upgrading its Bowen Hospital site weighed on the bottom line. It expects annual profit will fall by as much as a quarter. Net profit declined to $2.4 million, or 14 cents per share, in the six months ended Sept. 30, from $3.2 million, or 22 cents, a year earlier, the Wellington-based company said in a statement. Revenue fell 1.4 percent to $40.6 million as pr...

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