Estia Health profit, revenue & earnings lift despite challenges

Company News

by Jessica Amir

Aged care provider, Estia Health Limited (ASX:EHE) reported NPAT of $41.3 million, a 0.3 per cent lift in FY18, despite ‘one of the most challenging periods for the aged care sector’.

Despite the Royal Commission into Aged Care Quality and Safety and new Aged Care Quality Standards being introduced 1 July 2019 EHE’s FY19 revenue rose 7.1 per cent on FY18 to $586.0 million.

Its earnings (EBITDA) saw a minor uptick of 4.3 per cent to $94.0 million and its fully franked full year dividend was maintained at 15.8 cents per share.

Estia says despite falling occupancy rates in the sector, its average was 93.6 per cent in FY19. Meanwhile spot occupancy on 16 August was 94.1 per cnet.

Shares in Estia Health Limited (ASX:EHE) closed 1.94 per cent higher at $2.63 yesterday. Year-on-year its shares are 9 per cent lower.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.