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Oceania Healthcare believes its debt levels have peaked

Rising debt levels have been a focus for the sector over the past 12 months.

Oceania's new village, 'The Helier', is aimed at the premium end of the market.

Key points
  • Revenue: Rose 8% to $131.6m.
  • Net Profit: Up 214% to $35.2m
  • Main takeaway:  Management believes its net debt and gearing levels have likely peaked, and will plateau as the company begins to sell down its large inventories of units and care suites. 

NZX-listed retirement village provider Oceania Healthcare believes its debt levels have reached their peak after it jumped more than $60 million in the six months ended September.

Net debt rose to $616.3m over the period, up from $555.1m in the 12 months ended March.

The increase was driven by the

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Key points
  • Revenue: Rose 8% to $131.6m.
  • Net Profit: Up 214% to $35.2m
  • Main takeaway:  Management believes its net debt and gearing levels have likely peaked, and will plateau as the company begins to sell down its large inventories of units and care suites. 
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Oceania Healthcare believes its debt levels have peaked
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