Listed healthcare company Eldercare has returned to the black, reporting a net annual profit of $2 million after last year's $2.8 million net loss.
Managing director Alan Clarke said the result for the year to May 31 showed improved operational performance across the group.
Group revenue rose to $58.3 million from the previous year's $40.4 million.
The bottom line was boosted by two one-off gains - the sale of the company's Regents Park, West Auckland, property raised $930,000 and there was a $380,000 tax benefit.
Clarke said a strong first half was followed by a softer than expected second six months, leading to a flat core operating profit for that period.
Eldercare shares jumped two cents to close at 21c yesterday.
Eldercare $2m into the black
AdvertisementAdvertise with NZME.