Ramsay Health Care Reviews Portfolio After 1st Half Net Profit Fall
By David Winning
SYDNEY--Ramsay Health Care said it is actively reviewing ways to unlock value from its portfolio of global hospitals after half-year net profit from continuing operations fell 40%.
Ramsay reported a net profit from continuing operations of 135.5 million Australian dollars (US$91.9 million) for the six months through December, down from A$224.5 million a year earlier. The result excluded a A$618.1 million profit made by Ramsay on the sale of its Asia-focused joint venture with Malaysia's Sime Darby.
On a statutory basis, Ramsay's net profit totaled A$758.5 million in the period, compared with A$194.4 million a year ago. Revenue rose by 11% to A$8.16 billion, while earnings before interest, tax, depreciation and amortization--or Ebitda--rose by 2.9% to A$1.04 billion when only continuing operations were included.
Directors of the private hospital operator declared an interim dividend of 40 Australian cents a share, down 20% on the payout of 50.0 cents a year ago.
"The performance of the business will continue to be reviewed in the context of optimizing shareholder returns, a range of strategies are actively being assessed to unlock value and drive improved performance from the Company's portfolio of assets," said Ramsay.
Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
February 28, 2024 16:51 ET (21:51 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks