5 Nov 2012

Private hospital profit down

11:16 am on 5 November 2012

Acurity Health Group's profit fell in the six months to September following a drop in operating earnings as a result of patchy demand for its services.

The private hospital operator's profit declined 25% to $2.38 million, compared with $3.18 million last year.

Excluding one off items such as tax adjustments, underlying profit fell 23.6% to $2.8 million. Gross earnings for the period were down 16.9% to $7.3 million.

Acurity chief financial officer Bevan Miller said he expects full year net earnings to be down by up to a quarter on last year's result.