Third Age Health Half Year Results

Third Age Health Services (NZX: TAH) has reported its unaudited results for the six months to 30 September 2022 (1H23).

The primary care provider saw strong organic growth in its core business of providing primary medical services into Aged Residential Care (ARC) settings, with revenue up 16.7% on pcp to $2.8 million, and general practice revenue up 304.3% on pcp to $1.8 million.

However, net earnings after tax decreased 51.8% on pcp to $0.3 million, due to front-loading resources for growth, slower than planned integration of acquired practices and an increase in non-cash amortisation charges.

Despite short to medium term challenges, the business remains positive for the future with an aging population continuing to drive demand for primary care medical services.

The Board has declared a fully imputed dividend of 2.45 cents per share.