30 Oct 2012

Abano profit expected to double

12:44 pm on 30 October 2012

Abano Healthcare expects to more than double its profit in the six months to November, driven by its aggressive acquisition of dental businesses in Australasia.

The company is forecasting a first half year profit of $1.3 - $1.8 million, compared with $600,000 for the same period last year.

In the first half of the year the company bought several new dental practises and acquired the outstanding 30% stake of Dental Partners of Australia.

It also sold Abano Rehabilitation to Bupa Care Services.

Chief executive Alan Clarke said a strong lift in revenues in its dental business was also helped by a successful advertising campaign for Lumino The Dentists.

He expects the growth in the dental and radiology businesses to drive profits higher in the full year, but the group is concerned about the impact of the weaker Australian economy.