Qld disasters wipe $8m off Primary’s bottom line

MEDICAL centres operator and pathology provider Primary Health Care Ltd has downgraded its earnings guidance for the third time within a year, this time blaming Queensland's natural disasters.

Primary said on Thursday that the Queensland floods and Cyclone Yasi that followed would wipe about $8 million from annual earnings before interest, tax, depreciation and amortisation (EBITDA) in the 2011 financial year.

While some of those losses were the subject of an insurance claim and recovery procedures, the outcome and quantum recoverable was unlikely to be known this financial year.

On the basis that no