CBRE covid view change boosts Oceania's net profit 67%

Fri, 22 Jan 2021

Oceania Healthcare's first-half net profit jumped 67 percent after changes in its valuer's assumptions boosted the value of its properties.The aged care provider's net profit for the six months ended November jumped to $24.8 million from $14.9 million in the same six months of 2019. The value of its properties jumped by $26.7 million, compared with the previous first-half's $11.4 million gain.The valuer, CBRE, conducts the vast majority of valuations in the retirement village sector. It has changed its view of the impact of the...

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