Primary Health Care Limited (ASX: PRY) reported its half year report to 31 December 2017, its share price is up 3% at the open.

Primary Health Care is one of the largest providers of primary health in Australia, it also offers discounted IVF services.

Here are some of the highlights compared to last year:

  • Reported revenue up 5.9% to $856.5 million
  • Reported day to day trading, or EBIT, up 0.8% to $61.6 million (What the heck is EBIT and EBITDA?)
  • Reported profit up 4.7% to $22.1 million
  • Dividend per share up 6.25% to 5.1 cents
  • ‘Free cash flow’ up 91% to $45.7 million

The company said that it had a good performance from pathology and imaging, with day-to-day profit up 3% and 15% for each of them. This was offset against the medical centre profit reduction.

The company said that there are more positive short-term policy settings, but funding pressures remain. It said that care must move out of hospitals and into the community with multi-channel retail clinics and in-home services.

It re-affirmed the guidance for its FY18 underlying profit at $92 to $97 million.

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