Eldercare on track for profit

The result ended a two-year run of losses for the company, in which Eric Watson's Cullen Investments owns a controlling 53% stake.

Revenue rose 58% to $27.1 million, with growth coming mainly from the company's entry into diagnostics. The aged care and rehabilitation divisions also turned in improved performances.

Managing director Alan Clarke said the 28% annualised revenue growth rate achieved since the company began its repositioning in 2000 was expected to continue into the 2004 financial year and beyond.

Interests costs fell 20% as a result of refinancing and debt reduction.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024