Medical centre operator and diagnostics services provider Primary Health Care Ltd
(ASX:PRY) has reported a massive increase in earnings for the first half and says it expects 15% growth a year over the next couple of years.
Net profit after tax for the six month period increased more than five-fold to $76.6 million compared to $11.5 million recorded for the same period a year ago.
Primary declared an interim dividend of 15 cents a share up from 7 cents a share last year.
The company says the current changes in healthcare funding with the different responses of industry players, and in particular, the timing of the market workout to these responses, makes predictions of growth, and revenue in particular, in fiscal 2010 less definite than usual.
However Primary says it expects that in fiscal 2011 and fiscal 2012 the group should be looking to an earnings before interest, tax, depreciation and amortisation growth rate of 15% a year.
Primary Health Care posted a profit of $108.5 million for the year to June 30, 2009.
