1300 Smiles (ASX:ONT) rebounds after lockdown

Company News

by Rachael Jones

1300 Smiles (ASX:ONT) emerged from the Covid-19 shutdown reporting net profit down 8 per cent to $7.1 million on sales down 3 per cent to $57.1 million.

Revenue down is down 3 per cent to $57.1 million with EBITDA up 22 per cent to $16.2 million.

Dr Daryl Holmes the chief executive of dental business described the results as a ‘startling change’, with a business that has rebounded to ‘higher levels of revenue and profit than ever before’.

It will pay a final dividend flat at 12.5 cents per share to take full year dividends up 3 per cent to 25.75 cents per share.

Shares in 1300 Smiles (ASX:ONT) are trading 3.28 per cent higher at $6.30.