Radius Care Limited (RAD) has released its FY22 results, reporting strong growth in total income, IFRS Net profit after tax, and Premium Accommodation Charging.
This growth was driven by portfolio optimisation and the purchase of nine sites, increasing bed numbers in the development pipeline from 104 to 294 and retirement units from 40 to 167.
Revenue from care services increased 8.9%, while IFRS Net profit after tax was up 56.8% and Pre-IFRS Underlying EBITDA was up 2.3%.
Wage pressure was reflected in employee costs increasing 10.6%.
The company reported a total cash dividend for FY22 of 1.05 cents per share, near the top end of the policy range.
With an overall pipeline of 294 beds and increasing focus on premium charging, Radius Care is well positioned for continuing growth.
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