Property gains boost Oceania's 10-month profit

Fri, 21 May 2021

Oceania Healthcare reported a small rise in underlying net profit for the 10 months ended March as its valuers reversed last year's property write-downs and then some.Net profit for the 10 months was $85.5 million compared with a $13.6m net loss in the previous 12 months – the company has changed its balance date from May 31.Unrealised property gains contributed $83.3m to the latest 10-month result after a $22.5m write-down in the previous year.The underlying result was up 1.8% to $41.8m.Chief executive Brent Pattison said the company...

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