Radio New Zealand - Te Reo Irirangi o Aotearoa

Abano profit rises

Updated at 6:53 pm on 30 July 2012

Abano Healthcare's full year profit has risen modestly due to new investments in its dental arm.

The listed healthcare provider's profit stood at $1.6 million in the year to the end of May.

The previous year's $11.5 million profit included a one-off gain from the sale of National Hearing Care.

Revenue rose 18% to $206.4 million helped by Abano's accelerated push to buy dental businesses on both sides of the Tasman.

Managing director Alan Clark says the company's dental businesses in New Zealand and Australia now underpin its revenue and earnings growth.

Mr Clarke says more than 45% of its revenue is generated overseas and it estimates that will rise to more than 70% by 2015.

Operating earnings rose 30% to nearly $25.7 million. Abano declared a full year dividend of 21 cent a share.

The company's stock was up 6 cents to $4.48 on Monday.

Listen to Alan Clark on Checkpoint

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