15 Oct 2013

Acurity's expected earnings increase

8:00 am on 15 October 2013

Acurity Health Group's net earnings for the six months to the end of September are likely to be between $3.9 million and $4.1 million.

That's up from the $2.4 million net profit the private hospitals operator reported for the equivalent six months last year.

The company, which operates the Wakefield and Bowen hospitals in Wellington and the Royston hospital in Hastings, as well as owning 60% of the Grace Hospital in Tauranga, says much of the increase reflects non-cash profits.

Its underlying profit was between $3.3 million and $3.5 million, an increase of between 17% and 23% on the same period last year, largely reflecting cost-cutting.