The Melbourne-based member-owned health, wealth and care operator saw its operations within its Independent & Assisted Living (IAL) platform increase its revenue over the past six months.
In announcing a 9% fall in profit after tax of $14.2 million for the half-year to 31 December 2022 ($15.5M 12 months earlier), the ASX-listed organisation blamed the impact of COVID-19 on its home care and residential care businesses.
Australian Unity’s Independent Assisted Living platform includes retirement communities and provides home care, aged care, retirement living and allied health services. It saw a 9.3% growth in revenue to $318.3 million over 12 months. The company announced in June last year that the Independent Assisted Living platform has been split in two.
“Home Care Services experienced a 6.4% increase in revenue to $180.7 million, Residential Communities increased 8.4% to $102.6 million, Health Services increased 30.3% to $33.9 million, while Developments increased 27.4% to $1.1 million,” Australian Unity stated.
Residential Communities operates 11 integrated retirement villages and residential aged care precincts in addition to 12 standalone retirement villages in NSW, VIC and QLD. The portfolio comprises 2,664 independent living units and 1,125 aged care beds.
“Occupancy within mature retirement villages improved to 94% (30 June 2022: 93%) following sustained momentum in sales. The gross value of resales during the six-month period ending 31 December 2022 was up 20% compared to the prior corresponding period to approximately $80 million (31 December 2021: approximately $67 million),” it stated.
Australian Unity said its review of its aged care service, announced last month, would be finished mid-year.
