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Strong result for Vision Eye Institute’s biggest shareholder

– EBITDA up 9.7% to $385.1m (2012: $351.1m);
– EBITA up 11.4% to $323.2m (2012: $290.1m);
– Net profit after tax up 28.7% to $150.1m (2012: $116.6m);
– Significant margin gains in medical centres (80bps), pathology (80bps) and imaging (400bps);
– 18% improvent in cash flows from operating activities from $229m to $269m;
– EPS up 28% to 29.9 cps (2012: 23.3 cps); and
– Final dividend up 83% to 11.0 cps (2012: 6.0 cps). – Primary has delivered a strong trading result for FY2013 with 9.7% EBITDA growth and 28% EPS growth. The result has been driven by organic revenue gains and strong margin improvents.
The strength of the trading result is reflected by the following key EBITDA indicators:
– Medical centres – growth of 8.5% in the 58 large-scale centres;
– Medical centres – margin up 80 bps to 56.0%;
– Pathology – growth of 11.6% to $147.8m and revenue growth of 6.5%;
– Pathology – margin up 80bps to 17.7%;
– Imaging – growth of 21.4% to $72.0m; and
– Imaging – margin up 400bps to 23.3%.

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