12 Aug 2015

Revaluation gains boost Vital Heathcare profit

5:02 pm on 12 August 2015

Revaluation gains have almost tripled the full year profit at Vital Healthcare Property Trust.

The hospital and healthcare property firm's profit rose 158 percent to $96.5 million, in the year to June compared with the previous year.

The result benefited from an $84 million gain in the value of its property portfolio, with nearly all the growth coming from its Australian assets.

Vital Healthcare chief executive David Carr said the re-valuation was due to the upgrading of its medical sites to cope with an aging population and the rising prevalence of chronic illnesses.

He said the company would pay investors 8 cents a unit for the full year, which it forecasts will rise to 8.1 cents a unit in the 2016 financial year.

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