The ASX-listed operator has continued its strong recent results, reporting a 5.6% increase in its EBITDA and net RAD receipts of $33.6 million on top of a 94% average occupancy.
They also have over $130 million in developments approved and commenced including three new facilities in NSW and QLD with 345 beds, bringing their total number of beds to over 6,000.
Chief Executive Officer Norah Barlow said they expect the solid performance to continue in FY18, supported by its expansion and refurbishment program.
“We expect capital expenditure of circa $40 million for the remainder of FY18 and circa $210 million to the end of FY20 and we have a strong balance sheet and undrawn banking facilities to support this investment,” she said.
Norah will be speaking at our LEADERS Summit next Friday.
