Radius Care forecasts record half-year earnings

Radius Care has announced that it expects a 40% to 50% increase in its first half Pre-NZ IFRS16 EBITDA, reaching a range of $9.8m to $10.5m.

This is a record result for the company, surpassing the previous record of $7.0m achieved in the first half of FY23.

The increase in EBITDA is attributed to strong trading, high occupancy rates, successful business improvement initiatives, sales focus, gains from unit resales, and the establishment of the staffing bureau RConnect.

The company also mentioned progress in reducing debt through selected asset divestments.