Is The Helier a millstone for Oceania Healthcare?
Oceania Healthcare chief executive Suzanne Dvorak. Source: Oceania
The Arvida takeover lit a fire under all the retirement village operators' stocks and none more so than Oceania Healthcare's shares, but the quite awful Oceania first-half results on Friday suggest that wave of optimism might have been a tad premature.
The company reported a bottom line loss of $17.1 million for the six months ended Sept 30 while earnings before interest, tax, depreciation and amortisation (ebitda) came in just 2.7% higher than the previous first half at $38.6 million.
The two analysts' forecasts I've sighted had been expecting significantly more with Forsyth Barr's Aaron Ibbotson on $42.5 million and Macquarie even higher at $48.5 million.