Australasian dental group Abano Healthcare is set to report a one-off $2.1million gain in its full-year result, after completing the $17million sale of its Auckland-based Ascot Radiology unit to its radiologist shareholders.
Abano is now exclusively a dental group, with its 117 Lumino operations around New Zealand and 99 Mavern outlets throughout Australia, both of which have been underpinned by aggressive acquisition plans during the past two years.
Abano shares, up 11% on a year ago, eased slightly yesterday, to $9.25, following the announcement.
Abano's first-half revenue to November grew 14% to $158.7million and after-tax profit rose 2% to $6million.
Abano said yesterday the sale proceeds would be used to fund the dental group's growth, particularly in Australia.
