23 Feb 2012

Vital Healthcare Property Trust half year profit up

12:19 pm on 23 February 2012

The purchase of Australian properties has helped Vital Healthcare Property Trust to lift its half year profit by more than 60%.

The healthcare property investor made an operating profit of $11.3 million in the final six months of 2011, compared with $7 million a year earlier.

Rental income rose 81% to $24.4 million, largely due to the purchase of Australian properties at the end of 2010.

Chief executive David Carr says continued strength in the Australian market, where it has 80% of its hospital assets, is helping Vital's growth strategy.