Year of consolidation for Calan Healthcare

The trust says the year to the end of June was one of modest growth, with total assets up 8.6% on last year at $202.9 million.

It says the operating surplus after tax was $8.0 million, up 157.2% on the previous year. However, the tax paid net surplus, which includes unrealised returns on investment properties under construction, decreased by 10.6%.

CHP says the decrease was a result of a significant reduction in projects under construction during the year.

The trust completed three construction projects, with a combined value of over $20 million on time and under budget during the financial year, and it also expanded its portfolio through three New Zealand acquisitions. This included the site for the $8.5 million Kensington Hospital in Whangarei, which is currently under construction.

As at the end of June work in progress projects totalled over $50 million.

In Australia the trust says it has consolidated its position but before further investment will be authorised the Board must be convinced that substantial value can be added.

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