Oceania Healthcare has reported a 2.7% increase in underlying ebitda, reaching $38.6 million, for the six months ending September 30, 2024.
The company attributed the growth to its focus on improving sales capability, modernising its property portfolio and enhancing care services profitability.
However, it reported a net profit after tax loss of $17.1m, compared to a profit of $35.2m in the same period last year.
This was mainly due to higher interest expenses related to completed developments.
Oceania's total assets increased to $2.82b, and its debt gearing ratio decreased to 37.5%.
The company divested four non-core sites for $25.1m.
Oceania's chair, Liz Coutts, said the company would continue to focus on sales execution and improving returns on care services.
The board has decided to pause dividends for the interim period.
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