Radius Residential Care profits surge, acquires Cibus Catering

Radius Residential Care has reported a 39% increase in net profit after tax for the six months ended September 30, 2024.

The company's underlying ebitda, adjusted for the sale of one care home, was $10.6 million, up 14% from the same period last year.

Occupancy was 93.4%, higher than the industry average.

The company also announced the completion of its acquisition of 51% of Cibus Catering, a specialist provider of catering and nutrition services to the aged care sector.

An interim cash dividend of 0.65 cents per share was declared.