Primary in good health

MEDICAL centre and pathology clinic operator Primary Health has achieved an $8.9 million full-year profit after its impairment-hit $517 million loss a year ago.

Primary’s revenue for the year to June 30 is up 4.9 per cent to $1.74 billion and the group declared a final dividend of 5.5c, fully franked.

Shares in Primary were in a trading halt yesterday as the company completes a $250 million capital raising to fund new GP recruiting and modernisation at its medical centres.

The medical centres division suffered a 1.4 per cent drop in revenue to $313.4 million for the year, while pathology increased revenue 5 per cent to $1.09 billion and imaging revenue rose 10.5 per cent to $368.4 million.

Underlying group net profit was steady on 2016-17 at $92.3 million.