UPDATE: Oceania Healthcare first-half result down on property, wage costs

Fri, 25 Jan 2019

(Updates with more detail from 6th paragraph.) By Jenny Ruth Jan. 25 (BusinessDesk) - Oceania Healthcare’s first-half net profit plummeted 97 percent, mainly reflecting the demolition of a care facility in Tauranga, other property related costs and higher care wages. Net profit for the six months ended Nov. 30 fell to $1.3 million from $44.5 million in the same period a year earlier. The year-earlier result included a $34.1 million gain in the value of its investment properties compared with a gain of just $1.6 million in the latest...

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