Primary Health Care posts steep rise in FY profit

Primary Health Care (PRY) is eyeing acquisitions and tipping single digit earnings growth for the current year after posting a steep rise in full year net profit. 

Net profit increased 29% to $150.1 million for the year, from $116.6 million in the previous corresponding period, driven by a strong improvement in margins.  

It came on an increase in revenue to $1.45 billion, from $1.39 billion in the prior year. 

EBITDA came in at $385.1 million, within the company's upgraded guidance range of $380 to $390 million.

Primary Health Care is predicting EBITDA of $395 million to $410 million for the current year and earnings per share growth of between 7% and 13%. 

The group said it would "consider bolt-on acquisitions if appropriately priced". 

The group will pay a fully-franked final dividend of 11 cents, up from 6 cents in the prior year.