26 Feb 2014

Hospital owner expects profit rise

8:46 am on 26 February 2014

Acurity Health expects to report an annual net profit between $8 million and $8.7 million.

The private hospital operator says this will include a one-off gain of $1.1 million from selling shares in Boulcott Clinic, and the result for the 12 months to March will be up by 38 percent to 50 percent.

The underlying result is expected to be up by between 5 percent and 15 percent, despite an expected small decline in sales.

Acurity owns the Wakefield and Bowen hospitals in Wellington, the Royston hospital in Hastings, 60 percent of the Grace Hospital in Tauranga and has a 30 percent stake in specialised medical facilities in Epsom, Auckland.

Reflecting the one-off gain from selling the Boulcott Clinic shares, Acurity will pay a taxpaid special dividend of 6 cents a share and it also expects to pay a final dividend for the current financial year.