Abano makes healthy profit

Takeover target Abano Healthcare has reported a 37 per cent rise in half-year net profit after tax to $3.8 million.

The six months to November 30 result compares with $2.8 million for the same period a year ago, and was made on revenue up 44 per cent to $59.6 million.

A full $5.20 a share takeover offer by Australian private equity firm Crescent Capital Partners for Abano opened this week, after an unsuccessful partial bid of $5 a share from Masthead Portfolios which lapsed last week.

Abano shares closed down 1c at $4.95 yesterday.