Abano sees opportunities in Australia and NZ

 

"Consolidation activity in the dental sector in Australia is ongoing. Abano has received various expressions of interest, which may offer strategic opportunities and value to shareholders," it said in a statement.

The group said that it had "paused acquisitions in Australia", given current Australian acquisition multiples and trading conditions. It said that capital will be invested in New Zealand acquisitions to grow the existing Lumino network.

At the same time the group confirmed guidance for the year. Full year results to the end of May should see EBITDA of NZ$32.7m (US$22m) with NPAT of NZ$10.1m.

Abano shares slumped 32% at the end of March after it downgraded its earnings outlook, but have recovered since then. They closed the day up 17.85% at NZ$4.16.

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