Ramsay Health Care $138.4m Profit Up 10% 1H2013

Australia's largest private hospital company, Ramsay Health Care (ASX:RHC) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

• Ramsay Healthcare profit up 10.1 percent to $138.4 million in the financial half year from $125.7 million in the prior corresponding period.
• Ramsay Health Care chief executive Chris Rex said, "The transformation in terms of the number of Australians who could afford health insurance - and who were removed from using the public system - was a major policy initiative of the previous Coalition government. I would be surprised if they didn't make sure it continued to operate successfully."
• The company is targeting a long term growth rate of 20 percent. To achieve that oall, Ramsay Healthcare will have to acquire companies. Estimates have been put forward that the company can afford to fund a deal up to $2 billion with Asia and Britain as target markets.
• RHC core net profit, excluding non-core items, up 12.3 percent to $148.2 million.
• CEO Chris Rex also sees his contract extended till 2016 and will continue on a rolling basis until terminated. CEO Rex is currently renumerated at $2.1 million.
• Ramsay Health Care has operations in Australia, Britain, France and Indonesia.
• Ramsay Health Care owns 66 hospitals and day surgeries in Australia.
• Ramsay Health Care announced an interim dividend fully-franked of 29 cents per share, up from 25.5 cents per share.