26 May 2014

Acurity profit increase

1:59 pm on 26 May 2014

Private hospital operator Acurity Health Group has reported a net profit of $9.1 million for the year ended March, an increase of 55 percent on the previous year.

That includes one-off contributions from the sale of the company's share in Boulcott hospital of $1.1 million and interest rates swaps.

Revenue rose a modest 1.5 percent after one off contributions are removed.

The company says private patient revenue, which makes up the core of its business, rose, while ACC work improved slightly, though District Health Board work fell.

Underlying earnings improved by about 22 percent. The company declared a dividend of 11 cents a share.