Pacific Smiles Group
(ASX:PSQ) says it experienced a softer than expected April and May, with smaller patient fee growth and is now downgrading its EBITDA guidance.
The Australian network of dental clinics Same Centre Patient fee growth hit 3.8 per cent year-to-date, compared to its guidance of at least 5 per cent.
As a result, the group downgraded its EBITDA guidance to be between $20.4 million and $21 million for the full 2017 year. Its previous guidance was $21.7 million to $23.3 million for FY2017.
Pacific Smiles says no geographical area or single dental centre was to blame for the softer result, instead the ending of NIB’s no-gap offers at Pacific Smiles Dental centres resulted in a drop in activity.
Shares in Pacific Smiles Group
(ASX:PSQ) are trading 12.62% lower to $1.80.
