Abano profit way down on last year

Abano Healthcare chairwoman Alison Paterson speaking at the company's annual meeting in 2009. Photo / Paul Estcourt

Specialist medical company Abano Healthcare's after-tax annual net profit of $4.4 million met forecasts, but was less than half its record result for the previous year following the sale of its New Zealand audiology business, and ACC changes.

Abano's revenue of $178.1 million for the year to May 31 compared with $187 million the previous year, and earnings before interest, tax, depreciation and amortisation of $20.2 million undershot ebitda of $31.5 million a year earlier. Both were in line with a company forecast in March.

A final dividend of 13.7c a share to be paid on August 17 brings the total dividend to 21c a share, matching the previous year.

- NZPA


This story has been corrected from an earlier version, which had an incorrect first paragraph stating the result followed the slowdown in its Australian audiology business. That should have said "following the sale of its New Zealand audiology business..."