Aged care company ElderCare made a $6.7 million loss in the half year ending November 30, compared with a $2.20 million net profit in the previous comparable period.
Chief executive Alan Clarke said in a statement to the Stock Exchange the result was in line with forecasts made at the company's annual meeting in November.
Revenues amounted to $17.35 million, up from $8.65 million.
Mr Clarke said non-cash costs and one-off restructuring costs associated with repositioning into the wider healthcare market contributed to the loss. Earnings before interest, tax, depreciation and amortisation were $3 million, up 25 per cent on the same period last year.
"The result includes a realised loss of $1.3 million on the sale of the company's holding in RMG and writedowns of $5.3 million on discontinued property developments and other assets," Mr Clarke said.
Meanwhile, the Stock Exchange said that New Capital Market issuers Mowbray Collectables and NZIJ.co.nz had completed key transactions under the start-up board's listing rules.
The companies would be quoted on the NZSE as post key transaction NCM issuers from close of business on Friday.
- NZPA
ElderCare posts $6.7m interim loss after restructuring costs
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