Japara Healthcare Ltd (ASX: JHC) has bought four new land purchases in FY17 and built 445 new greenfield beds in the anticipation.
Japara Healthcare Ltd (ASX: JHC) has bought four new land purchases in FY17 and built 445 new greenfield beds in the anticipation. During H1FY17, JHC had reported a revenue growth of 14.5% year on year (yoy) to $178.5 million while EBITDA grew by 3.6% yoy to $29.1 million. However, it has witnessed a decline of 9.9% yoy in net profit after tax to $14.6 million, impacted by Profke portfolio due to occupancy issues, while reported an overall average occupancy at 94.4% with focus on high quality resident care and innovation in service delivery. Further, the company’ projects are progressing well and the group has delivered four brownfield facilities during H1FY17 and four additional land sites secured in optimal metropolitan locations. With this, land has been secured for 10 of 11 greenfield projects which are targeted to provide over 1,100 places by FY20 to cater to the growing demand from Australia’s ageing population. The company is expected to release its FY17 results to on Monday 28 August 2017.
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