Owner and operator of private hospitals Ramsay Health Care Ltd
(ASX:RHC) has reaffirmed its profit guidance for fiscal 2010 and says the underlying business is in excellent shape.
Ramsay says it forecasts net profit after tax growth of between 12% and 14% for the year barring any unforeseen circumstances.
The company reported net profit of after tax of $146.4 million up 18.9% from the previous year.
The company says strong organic growth continues with earnings from pipeline of quality brownfield projects to increase as projects are completed and ramp up with the first four months of fiscal 2010 in line with expectations.
Ramsay says capital raising will further strengthen the company’s balance sheet and allow financial flexibility to pursue growth.
Ramsay Health Care posted profit of $106.4 million for 2009.
