Regis Healthcare shares have dipped by nearly 10 per cent after the company announced full-year profit would likely come in at the lower end of its guidance, while also flagging lower earnings for the year ahead.
The aged-care service provider said on Thursday it expects FY19 profit to be at the lower end of its $47 million to $51 million guidance amid an industry-wide sag in occupancy trends.
Regis said in a release to the ASX its average occupancy for the period to date for the second half of FY19 was 91.6 per cent, compared to 92.8 per cent in the first half.
The company also anticipates its earnings for FY20 to be circa $105 million – down from an expected $113 million in FY19 – due non-recurrent expenses from regulatory changes.
Regis shares were 9.12 per cent lower at $2.49 at 1128 AEST.