Financial Information



  • Reported a record operating Net Profit After Tax of $5.0 million and Earnings Before Interest, Tax, Depreciation and Amortisation of $13.9 million, with Revenues of $89.5 million.
  • Continued national rollout of the Lumino Care Dental network with six new clinic acquisitions, taking the total number of clinics to 24, in addition to the appointment of Andy Tapper as Dental general manager in June 2006.
  • Continued the expansion of the Bay Audiology network from 32 to 40 permanent and visiting clinics in New Zealand; and entry into the Australian market, which now has nine permanent and visiting clinics.
  • $102 million five-year community pathology contract for Wellington, Hutt Valley and Kapiti Coast regions awarded to Aotea Pathology, an Abano joint venture with Sonic Healthcare, in June 2006.
  • Started operations in Aotea Pathology on 1 November 2006 with no disruption to patient services during transition. Nelson Diagnostic Laboratory sold to Medlab South in October 2006 following the loss of the community pathology contract.
  • Acquisition of remaining 30 percent shareholding in Orthotic Centre NZ in October 2006, taking ownership to 100 percent.
  • Acquisition of 80 percent of Greenlane Imaging in February 2007.
  • Exercised option to acquire a further 40 percent of Ascot Radiology in May 2007, taking total ownership of this business to 80 percent.
  • Invested in $1.4 million 64 slice CT scanner for Ascot Radiology and established joint venture with leading cardiologists to utilise the technology in June 2006.
  • Retirement of director and chairman of the board, Mr Jim Syme, in October 2006. Alison Paterson elected as chairman and Graeme Edmond appointed as independent director on 27 October 2006.


  • Acquisition of two dental practices - Anzac Street Dental Centre in Auckland and Shearer Dental in Oamaru.
  • Acquisition of an audiology practice, The Hearing Centre, in South Brisbane, which settled on 1 July 2007.
  • The Company‚Äôs 2006 annual report was selected as a finalist in the New Zealand Institute of Chartered Accountants Annual Report

12004/05 figures reflect the 1:10 share consolidation on 14 December 2005.

2 NZ IFRS was adopted for the year ended 31 May 2006. Figures for 2005 year have been restated in line with NZ IFRS guidelines.

3 Excludes capital gain on sale from the sale and divestment of ElderCare New Zealand Limited