27 Jul 2011

Abano Healthcare profit falls

2:34 pm on 27 July 2011

Abano Healthcare's full year profit has fallen as dental care replaced audiology as its main revenue source.

Excluding a $12.3 million gain from the sale of National Hearing Care, the listed healthcare provider made a net profit of $2.3 million in the year to the end of May, a fall from the $4.4 million of a year earlier. Revenue fell slightly to $175 million.

Abano managing director Alan Clarke says the earthquakes in Christchurch and the floods in Queensland reduced earnings by about $500,000 during the year.

He expects business conditions in New Zealand and Australia to improve in the second half of the 2012 financial year.