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

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news