Oceania Healthcare annual profit climbs 72%, signals higher future build rate

Wed, 25 Jul 2018

By Rebecca Howard July 26 (BusinessDesk) - Oceania Healthcare'a annual profit climbed 72 percent, largely on property revaluation gains, and the aged care operator plans to accelerate new developments as it benefits from strong resale margins and new retirement village unit sales. Net profit rose to $77 million in the year ended March 31 from $44.9 million in the prior period, the Auckland-based company said in a statement. Underlying earnings, which includes pro-forma adjustments, rose 53 percent to $52.1 million. Both figures beat fore...

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