Green Cross Health Limited (NZX: GXH) Reports Half Year Profit of $8.8M

Green Cross Health, the group behind Unichem and Life Pharmacy, The Doctors and Access Community Health, reported revenue of $277m for the six months to 30 September 2020, consistent with the prior period. Net Profit After Tax attributable to Shareholders of $8.8 million includes growth in the Medical and Community Health divisions, offsetting weakness in the Pharmacy division.

Outlook and Dividend

Green Cross Health is focused on delivering earnings growth whilst refining its operating model to adapt to changing market conditions. The Company has worked to maintain a strong Balance Sheet (including not paying a full year dividend for FY20) in light of the challenging landscape that has been shaped by the COVID-19 pandemic. In order to safeguard this position and to capitalise on acquisition opportunities that may eventuate as a result of the economic climate, the Board has resolved not to declare an interim dividend.

Green Cross Health is committed to providing all New Zealanders accessible, quality primary healthcare. As part of this commitment, we will continue to advocate for the removal of the prescription co-payment Government tax, and remain optimistic that the implementation of the recommendations from the New Zealand Health & Disability System Review will see the improved accessibility and affordability of primary healthcare for New Zealand communities.

See the links below for more details:

GXH Half Year Results Announcement 25 Nov 2020

GXH Half Year Results Presentation 25 Nov 2020

GXH Half Year Results Appendix 1 25 Nov 2020

GXH Half Year Results Financial Statement 30 Sept 2020

Source: Green Cross Health Limited

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