Unaudited group gross revenue during that period was $124.6m, up 9 per cent on the prior comparative period, Abano said, with underlying Ebitda of $14.7m ($25.3m including Government wage subsidies of $10.6m).
The company put the stronger trading results down to a combination of deferred demand from the lockdown period, clinicians taking less leave as a result of Covid-19, and record numbers of new patients and strong existing patient numbers visiting Abano's dental practices.
Abano owns Lumino The Dentists in New Zealand and Maven Dental Group in Australia.
Abano's latest forecast for the full financial year 2021, completed during September 2020, is for underlying Ebitda of $32m plus Government wage subsidies of $10.2m, totalling $42.2m.
"The Board recognises that the future economic environment remains uncertain, and that Abano's trading in future months may not be reflective of the first few months of the financial year," the company said in a statement.
"The Board believes that the business is on track to make a full recovery from the impacts of Covid-19 over time, however there may be risks of further adverse impacts from Covid-19 in the near term."
The revised scheme price remains subject to the specified price reductions.
Those conditions are primarily related to Covid-19 fallout and could strip up to 75c from the offer price under the worst-case scenario.
Abano's Directors continue to unanimously recommend shareholders vote in favour of the Scheme.
Abano chairwoman Pip Dunphy has told shareholders that should the takeover not proceed then shareholders would retain the risk of the actual value impacts while the company is also likely to undertake a capital raising.
The bid came after an original scheme of arrangement offered by the same parties and pitched at $5.70 a share was scrapped due to the Covid-19 crisis.
While there are a number of defined "adjustment events" the new deal does remove the bidders' right to terminate the scheme if a "material adverse change" occurs.
"The dental industry is highly sensitive to the Covid-19 environment with only limited emergency care able to be provided during level 3 and 4 lockdowns, and the pandemic has had a material impact on Abano's business and cashflows this year," Dunphy said last month.
Abano posted a $48.7m net loss after tax, including $45.5m of impairments, for the year to May 31, 2020.
Underlying profit, pre-NZ IFRS 16, was $700,000 and underlying Ebitda was $17.4m pre-NZ IFRS 16 and including wage subsidies of $8.5m (compared with guidance of $17m to $20m).
As at May 31 the company's net drawn bank debt was $134.5m and has since reduced to approximately $123m as at 31 July 2020, with total facilities of approximately $170m.
No dividend was declared given the uncertainty.
