Half-year profit at Abano Healthcare has fallen and the company says conditions remain challenging. But it still plans to expand its audiology, dentistry and radiology businesses.
Abano made an underlying profit of $2.8 million in the six months to the end of November, a fifth less than $3.4 million in the same period last year.
Revenue fell more than 15% to $86.7 million.
Chairperson Alison Paterson says trading conditions were challenging in the first half of the year and consumer and business confidence remains subdued going into the second half.
Ms Paterson says the company has loan facilities of $45 million in New Zealand and about $33 million in Australia, which will be used to expand its dentistry business on both sides of the Tasman, radiology services in New Zealand, and its joint-venture audiology business in Australian and Asian markets.
The company will provide a full-year earnings forecast in March, once it has assessed the Christmas and summer holiday trading period.
Shares in Abano fell 2c to $4.85 on Tuesday.
