Profits decline at NZ Super-backed lab company

Anoop Singh has said the company doesn't intend to pay dividends this year or next. (Image: Awanui)

Tue, 11 Jul 2023

Profits decreased at major lab provider Awanui in calendar 2022, amid a turbulent time for worker relations at the healthcare firm.The company – previously called Asia Pacific Healthcare Group – is mostly owned by New Zealand Super Fund and Ontario Teachers’ Pension Plan Board.It posted a revenue decline of 8.3% to $353.1 million, from $385m, in the 12 months to December 2022.With expenditures relatively unchanged, the healthcare provider posted a 67.6% profit drop to $13.1m, from $40.4m.Employee expenses rose from $138.6...

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