Australia's Ramsay Health Care flags lower annual net profit (updated)

Ramsay Health Care

05/08/2024 24:43

(Updates with details from paragraph 3 onwards)
       Aug 5 (Reuters) - Australia's Ramsay Health Care
 RHC.AX  on Monday said it expects earnings from continuing
operations for fiscal 2024 to be slightly lower than the
previous year, mostly due to non-cash impairments and writedowns
on operations in France and the UK. 
    The country's largest independent hospital operator said it
expects to report net profit after tax and minority interests
from continuing operations for fiscal 2024 between A$265 million
($172 million) and A$270 million, a touch below the A$278.2
million reported last year. 
    The firm recorded non-cash impairments and accelerated
writedowns on the book value of certain underperforming assets
at both its French and UK operations of A$24.5 million. 
    This resulted in the firm expecting annual depreciation,
amortisation and impairments charge to be around A$1.13 billion,
higher than a previously guided range of A$1 billion to A$1.1
billion. 
    Non-recurring items are expected to make a total negative
contribution to the fiscal year result of about A$29.5 million
after tax and minority interests, compared to a positive
contribution of A$27.5 million in the previous year, the company
said in a statement.     

    ($1 = 1.5370 Australian dollars)

 (Reporting by Sneha Kumar; Editing by Tom Hogue and Sonali
Paul)
 ((Sneha.Kumar@thomsonreuters.com;))