Yovich & Co. Market Update - 30 July 2018

Jul 30, 2018 | Commentary

Oceania is NZ’s third largest residential aged care provider and sixth largest retirement village operator. Oceania Healthcare exceeded forecasts with steady earnings boost and has signalled higher future build rate.

The net profit after tax for year ended 31 May 2018 was $77m compared with $32.1m last year. All units and beds in the 2018 IPO forecast have been delivered on time and on budget. A further 451 beds and units are currently under construction across five sites.

A further dividend of 2.6¢ per share is payable 20 August making the total dividend for the year 4.7¢.  The current price is $1.12 which is a gain of 41.7% on the issue price of 79¢, the 12-month target price is $1.22.

Abano Healthcare which operates the Lumino The Dentists chain in NZ and Maven Dental Group in Australia reported a tax paid profit of $12.6m for the May year, an increase of $1.7m on the previous year. The current price is $8.99 and 12 month target price is $10.75. the dividend yield is 5.12%.

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Walter Yovich



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