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Radius Care's first-half profit fell on rising employee costs

Staff reporters
Mon, 29 Nov 2021

Radius Residential Care reported a 35.4% fall in first-half net profit as costs grew faster than revenue but said it achieved significant milestones.Net profit for the six months ended September fell to $1.3 million from $2.1m in the same six months in 2020 with revenue rising 8.4% but costs increasing 9.9% with the main factor being a 10.2% rise in employee costs."We continue to see costs across the business rising, particularly for labour, food and consumables," executive chair Brian Cree said. "Some of these cost increase...

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