Gateway reports strong village profits

Company News

by David Murdoch

Gateway Lifestyle Group (ASX:GTY) has reported its net profit after tax (NPAT) rose about 53 per cent on FY16 to close-to $60 million for the 2017 financial year.

In more good news for Gateway, its revenue strengthened over the 2017 financial year, and lifted a tick over 4 per cent on FY16 to just under $119 million.

The retirement village operator’s earnings before interest and tax, depreciation and amortisation (EBITDA) increased 4.9 percent on FY16 to $45.3 million.

The company declared a dividend of 9.1 cents per share unfranked .

Shares in Gateway Lifestyle Group (ASX:GTY) are trading 0.53 per cent higher at $1.90