Estia Health profit, revenue & earnings lift despite challenges2019|01:10
Aged care provider, Estia Health Limited (ASX:EHE) reported NPAT of $41.3 million, a 0.3 per cent lift in FY18, despite ‘one of the most challenging periods for the aged care sector’. Despite the Royal Commission into Aged Care Quality and Safety and new Aged Care Quality Standards being introduced 1 July 2019 EHE’s FY19 revenue rose 7.1 per cent on FY18 to $586.0 million. Its earnings (EBITDA) saw a minor uptick of 4.3 per cent to $94.0 million and its fully franked full year dividend was maintained at 15.8 cents per share. Estia say despite falling occupancy rates in the sector, its average was 93.6 per cent in FY19. Meanwhile spot occupancy on 16 August was 94.1 per cnet. Shares in Estia Health Limited (ASX:EHE) closed 1.94 per cent higher at $2.63 yesterday. Year-on-year its shares are 9 per cent lower.