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Ramsay's Australian arm boosts FY profit

Simone Ziaziaris  |  30 Aug 2017Text size  Decrease  Increase  |  
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SYDNEY - [AAP] Ramsay Health Care (ASX: RHC) has lifted full-year net profit 8.6 per cent to $488.9 million on the back of growth in admissions and procedural volumes across the company's Australian business.

The country's largest private hospital operator said revenue from services for the year to June 30 grew marginally, up 0.2 per cent, to $8.7 billion, from $8.68 billion a year ago.

Managing director Craig McNally said growth across Ramsay's Australian arm helped deliver strong revenue and earnings (EBIT) growth, while its international business also performed well amid challenging tariff environments.

"Australia remains the powerhouse of our business and delivered another year of impressive earnings growth, driven by strong demand and our brownfield developments," Mr McNally said in a statement on Wednesday.

Mr McNally said the company had continued to invest heavily in the Australian market with the opening of two new facilities--The Southport Private Hospital in the Gold Coast and the Border Cancer Centre in Albury--this financial year.

The Australian and Asian sector contributed $4.7 billion in revenue, up 7 per cent on a year ago, and $649.6 million in earnings (EBIT), up 13.6 per cent.

Ramsay's business in France delivered $3.31 billion, up 0.3 per cent, while operations in the United Kingdom grew 4.6 per cent to $729.9 million.

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Mr McNally said the company expects strong growth in its Australian hospital business to continue in the year ahead and its business in its international markets are well positioned.

For the 2018 financial year, Ramsay is targeting core earnings per share growth of between 8 and 10 per cent on the current year's 261.4 cents.


* Net profit up 8.6pct to $488.9m

* Revenue up 0.2pc to $8.7bn

* Fully-franked dividend of 81.5cps, from 72 cents


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