Oceania lifts first-half underlying net profit 17.6%

By Jenny Ruth | Fri, 24 Jan 2020


Oceania Healthcare’s first-half bottom line soared on rising property values while the underlying result from continuing operations was up 17.6 percent. The aged care and retirement village operator and developer's net profit for the six months ended November rose to $14.9 million from $1.3 million in the same six months a year earlier. The underlying result, stripping out property valuation gains and other adjustments, rose to $24.1 million from $20.5 million. Cash flow was also up strongly at $57 million from $9.9 million, mainly bec...