Vital first-half profit boosted by property gain, buys aged-care properties for A$41M

Wed, 24 Feb 2016

By Jonathan Underhill Feb. 25 (BusinessDesk) - Vital Healthcare Property Trust, which owns and develops property for hospitals and healthcare, posted a jump in first-half profit after recognising a gain in the value of assets in Australia and announced its entry to the aged-care market by buying four properties for A$41 million. Net profit jumped to $47.5 million, or 17.15 cents per share, including a pretax property revaluation gain of $45 million, in the six months ended Dec. 31, from $13.9 million, or 4.1 cents, a year earlier, the Au...

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