Abano sales up but profit down

Abano Healthcare, which invests in specialist health clinics, posted a 53 per cent drop in first-half profit after it sold an audio testing business and took one-time charges for IT spending and a debt facility in Australia.

Profit was $1.5 million for the six months ended November 30, down from $3.2 million a year earlier, the Auckland-based company said. Sales rose to $102 million from $86.7 million.