Abano profit plummets on Maven write-down, takeover costs

Wed, 29 Jan 2020

Abano Healthcare's first-half net profit plummeted after goodwill and other asset write-downs of its Australian dental business and the costs of dealing with a takeover offer that the directors are supporting.Net profit attributable to shareholders for the six months ended November fell to $115,000 from just above $6 million in the same six months of 2018.The company wrote $4.4 million off the value of Maven Dental and the takeover - via a scheme of arrangement - cost $1.7 million in the six months.Abano had already written $2.6 million off Mav...

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