FNZC lifts target price for Oceania Healthcare despite 'mixed interim result'

Mon, 29 Jan 2018

By Sophie Boot Jan. 29 (BusinessDesk) - First New Zealand Capital has increased its target price for Oceania Healthcare despite cutting its profit expectations after the company reported first-half earnings last week. On Thursday, the Auckland-based aged-care operator reported first-half profit nearly doubled to $42.5 million in the six months to Nov. 30 as its investment property became more valuable and it sold more retirement village units. Total assets increased 19 percent million to $999 million. Oceania has 51 sites around the count...

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