19 Aug 2010

ING Medical lifts underlying profit to $13m

1:34 pm on 19 August 2010

ING Medical Properties Trust has lifted its underlying profit by boosting occupancy and increasing rents.

The healthcare properties investor which owns hospitals, health centres and research facilities made $7.4 million in the year to the end of June, a turnaround from the $2.2 million loss the previous year.

Once revaluations and other adjustments are stripped out, operating profit rose 14% to $13.4 million.

Trust chairman Bill Thurston says occupancy levels are at 99.6%, and a resilient portfolio has helped it deliver a total cash distribution of 8.5 cents per unit.