Monday 31st May 2021
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Third Age Health Services, a medical service provider for the aged care sector, has reported an increase in net profit after tax from continuing operations of 6.8 per cent and record revenues for the full year ending 31 March 2021. Revenue for the year reached a new record of $5.5 million, up 4.4 per cent on the previous year - resulting in pre tax profit of $1.6 million.
The company has repaid all bank debt during the period, helping to position the primary care provider for future acquisitions of medical practices that support growth in their core business.
CEO Michael Haskell says it has been a solid year for Third Age.
He says having successfully completed the listing, the business is well positioned for further growth - both organically and via an acquisition based expansion programme.
“Our share offer to wholesale investors prior to our NZX listing was oversubscribed. We were able to distribute a special dividend to shareholders in March."
“Growth from the two sectors we operate in has continued with the number of patients we care for increasing over the second half of 2021. We believe the current trajectory will see us achieve another positive result in the coming financial year,” he says.
The board is pleased to declare a final dividend of 3.91 cents per share taking the total dividend for the year to 18.28 cents per share. We will continue to target our dividend policy of 75 per cent of net profit after income tax from continuing operations being distributed to our shareholders.
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