Ramsay Health Care Limited (ASX: RHC)- Ramsay Health Care arrowed down on ASX as net profit declined 20.6%

  • Aug 30, 2018 AEST
  • Team Kalkine
Ramsay Health Care Limited (ASX: RHC)- Ramsay Health Care arrowed down on ASX as net profit declined 20.6%

Ramsay Health Care (ASX: RHC) reported 7.0% rise in core earnings per share to 279.8 cents and 6.8% rise in core net profit to $579.3 million for the year ended 30 June 2018. Group’s revenue increased 5.4% to $9.2 billion including 5.5% growth in Australia/Asia segment, 0.3% growth in France, and decline of 5.2% in United Kingdom arising from significant downturn in NHS volumes.

Group’s earnings before interest tax, depreciation and amortization (EBITDA) rose to $1.4 billion, an increase of 6.2% on FY17. However, statutory reported net profit after tax of the company declined by 20.6% to $388.3 million, reflecting net non-core items of $191.0 million in FY18. 

Private Hospital operator Ramsay Health Care has completed projects with gross capital investment of $171 million in fiscal 2018, which includes net increase of four beds, seven theaters and 21 consulting suites.

Fully-franked final dividend of 86.5 cents was announced during the year, taking the full year 2018 dividend to 144.0 cents which is 7.1% more than previous year dividend payment.

After taking into consideration the anticipation of higher interest and tax in FY19, the company aims of up to 2% growth in Core EPS.

As company reported downfall in net profit after tax, Ramsay’s stock slipped by 7.221% to $53.960 on 30 August 2018 (3:32 PM AEST).

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