Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Acurity Health says cost control helping lift profit

Acurity Health says cost control helping lift profit as sales fall

Feb. 25 (BusinessDesk) - Acurity Health Group said full-year underlying earning may rise as much as 15 percent as the private hospital operator formerly known as Wakefield Health keeps a lid on costs to make up for declining revenue.

Profit will be $6.3 million to $6.9 million in the year ending March 31, excluding a $1.1 million gain from the sale of shares of Boulcott Clinic and interest rate swap revaluations. Earnings were $6.1 million on the same basis last year. Net profit would rise to as much as $8.7 million from $5.9 million.

“The group’s revenue for the year will be slightly down on the previous year but the continued focus on expenses control has resulted in the improvement in the underlying earnings,” the Wellington-based company said in a statement. It didn’t give details of the revenue decline.

The company said it will pay a fully-imputed special dividend of 6 cents a share in recognition of the one-time gain from the Boulcott sale. It will be paid on March 27 with a record date of March 13.

The shares were unchanged at $5.50 and have gained 10 percent in the past 12 months, lagging behind the NZX 50 Index’s 18 percent gain.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news