REPORTING SEASON: Primary Health Care (PRY)
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Figure 1: Primary Health Care 12 month chart
A healthy profit result today from medical services company Primary Health Care (PRY).
Net profit for the year to June 30 2013 rose almost 29% to $150.1 million while total revenue was up 4.6% to $1.46 billion.
The result was broadly in line with PRY’s own guidance and market expectations while a final fully franked dividend of 11cps was a positive surprise, up 83% on last year’s final dividend.
The company has benefited from decreased interest margins and is forecasting 7-13% growth in earnings per share in FY14 and EBITDA in the range of $395-$410M.
“This result is a credit to both Primary divisional management and staff across all our four divisions, who have taken a disciplined approach to balancing revenue growth with efficiency improvements,” said Managing Director Dr Edmund Bateman.
The final dividend will be paid on 8th October 2013 and brings FY13 dividend payments to 17.5cps. PRY shares fell in afternoon trade on Wednesday following the result, but are up 30% so far this calendar year.