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Ramsay Health Care full year 2019 profit up 2%; revenue up 24.4%

Ramsay Health Care Ltd. said earnings for the year ended June 30 rose 2% while revenue rose 24.4% year over year.

The Australian healthcare provider said core net profit after tax for the 12-month period was A$590.9 million, or 285.8 cents per share, from A$579.3 million, or 279.8 cents per share, a year earlier.

Excluding the effects of the company's 8.19-billion Swedish kronor acquisition of Capio AB, Ramsay Health's core net profit after tax rose 2.5% to A$593.9 million.

Revenue for the year was A$11.42 billion, up 24.4% from A$9.18 billion in the previous year. Excluding Capio revenue, Ramsay's revenue rose 5.3% year over year.

For full year 2020, Ramsay expects core EPS to grow by 2% to 4% on a like-for-like basis. The outlook corresponds to a negative core EPS growth of -6% to -4% under the new lease accounting standard from the Australian Accounting Standards Board, called AASB16.

Ramsay Health Care provides health care services to public and private patients, including day surgery procedures and complex surgeries, as well as psychiatric care and rehabilitation services.

As of Aug. 28, US$1 was equivalent to 9.72 Swedish kronor.