Oceania lifts operating profit 6%

Wed, 23 Nov 2022

Oceania Healthcare’s first-half net profit fell 70% as the value of its properties increased at a slower pace, but its underlying operating earnings were up 6%.The retirement village operator said its strategy of building premium care suites, for which it can charge more than government funding, is delivering results.Its net profit for the six months ended September fell to $11.2 million from $36.9m in the same six months last year.The value of its properties rose by $21.3m after a $31.3m increase in the year-earlier six months while earn...

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