26 Oct 2016

Abano looks to dental for growth

2:28 pm on 26 October 2016

Healthcare company Abano is looking to its New Zealand dental business, branded as Lumino, to drive a significant lift in earnings.

Dentist, mouth

Abano is growing, largely through its dental business. Photo: 123RF

The company's annual meeting was told yesterday that it expected a first-half underlying profit of $5 to $5.6 million, which would be at least 35 percent better than last year's result.

Abano has sold its audiology business and has now restructured.

It is consolidating its Australian dental business, under the Maven brand, although it said it was still challenging across the Tasman.

Chief executive Richard Keys said the trans-Tasman dental sector was big business.

"The growth through Abano is largely through our dental business - particularly in New Zealand - all of our businesses are improving their margins as well, which helps with the growth," he said.

Mr Keys said the company was looking at opening brand-new dental practices - with one already rolled out and a second planned shortly.

The company's share price was unmoved by the improved forecast.

Hear more on this story from Morning Report.

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