Primary ups earnings estimate

The company now expects earnings before interest, tax, depreciation and amortisation to be between $380 million and $390 million.

It also expects earnings per share growth of 24–29%.

It had previously forecast earnings before interest, tax, depreciation and amortisation of between $370 million and $380 million and earnings per share growth of 20–25%. 

Primary Health Care today said upgraded earnings guidance was based on unaudited management results to 30 April and current trends within the business.

The group made a net profit of $69.5 million in the six months to 31 December , up 50% on the previous corresponding period.

Managing director Dr Edmund Bateman said at the time that the company was benefiting from operating efficiencies and cost cuts.

Earnings and profit margins had grown across Primary Health Care's medical centres, pathology and imaging divisions, despite lower GP patient numbers.

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