Listed healthcare company Abano has delivered the top end of its profit forecasts, posting a $9.7 million profit, a rise of 24% on the previous year, as growth and expansion boosted revenue by half.
At the same time, the company has announced further overseas expansion with two audio clinics in Malaysia, and expects much of its future growth to be outside New Zealand.
The group's main activities include audiology clinics in Australasia and Asia, Lumino The Dentist in New Zealand and a majority stake in an Australian chain, and radiology, pathology and rehabilitation businesses.
Abano's managing director Allan Clarke says healthcare is partly resistant to recession, though many procedures are elective and the volume is affected by economic conditions.
Mr Clarke says future growth is likely to be in the dental business in this country, and expansion in Australia and Asia. He says Bay Audiology is now a mature operation so its growth rate will not be as high as overseas businesses.