11 Nov 2011

Wakefield Health says market is still subdued

4:45 pm on 11 November 2011

The private healthcare firm Wakefield Health says the market is still subdued and it's yet to see a rebound in demand.

Its profit rose 33% to $3.2 million in the six months to the end of September, compared with the same period last year.

The increase was mainly due to recent investments, which are contributing to its earnings.

Revenue rose 5% to $41.2 million, due to increased work from ACC and district health boards.

Wakefield Health chairman Alan Isaac says the company's second-half earnings are traditionally lower than the first six months.

He says the company will face $250,000 in insurance expenses, due to the earthquakes in Christchurch this year.