Vital Healthcare Property Trust half-year profit up 60%, boosted by $61m revaluations
24 Feb, 2021 08:14 PM
3 minutes to read
Vital Healthcare Property Trust pushed net profit after tax up 60 per cent in its latest half-year results.
The business which owns 42 hospitals, outpatient, specialist and medical centres here and in Australia declared a $91m net profit after tax for the six months to December 31, 2020.
Revenue rose 8.5 per cent to $54m, up on the previous corresponding period s $49m but the bottom line was boosted by property revaluations which came in at $61m.
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Vital manager NorthWest Healthcare Properties Management said the NZX listed trust s defensive portfolio helped it record a 19.8 per cent total return for the 12 months ended December 31, outperforming the S&P/NZX REIT Index by 15.4 per cent and the broader S&P/NZX 50 index by 5.9 per cent.
Vital Healthcare Properties Trust half-year profit up 60%, boosted by $61m revaluations nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Vital Healthcare Property Trust buys half-hectare Melbourne site for A$350m hospital project
21 Dec, 2020 07:52 PM
3 minutes to read
Vital Healthcare Property Trust has bought a half-hectare Melbourne development site where a A$350 million medical project is planned.
NorthWest Healthcare Properties Management announced the purchase of 5330sq m in the Box Hill suburb next to Vital s existing Epworth Eastern Hospital where a $140m expansion is under way.
The site is in the suburb s health and education precinct. Not only is it beside the existing hospital but other facilities nearby are Box Hill Public Hospital, Ekera Medical Centre and a tertiary training institute.