Primary Healthcare Profits

Australian pathology provider and medical centres operator, Primary Health Care (ASX:PRY) have announced a 21.7 percent increase in net profit however the company expects earnings to be on the lower end of the scale of the earlier profit guidance. Expected earnings in 2010/11 to be around $360 million, at the bottom of a range of earlier guidance of $360-380 million. Net profit is at $132 million for the 2009-2010 financial year, an increase from $108.5 million in the previous year.

Funding cuts to Medicare have affected its results: "The under-funding by government has led in FY2010 to reduced access to GP, pathology and healthcare services. While this will lead to reduced access to those not able to afford care, the demand by those who can pay will lead to renewed growth."

Primary Healthcare Dividends

Primary Healthcare have declared a final dividend of 10 cents per share, fully franked compared to 14 cents for the previous corresponding period.