Green Cross Health Half Year Results to 30 September 2019

Green Cross Health (NZX: GXH) Half Year Result Announcement for the unaudited six months ending 30 September 2019 GREEN CROSS HEALTH REPORTS INTERIM PROFIT OF $7M 26 November 2019, AUCKLAND, NZ: Listed primary health care provider Green Cross Health, the group behind Unichem and Life Pharmacy, The Doctors and Access Community Health, reported a 2% decrease in Revenue to $275m in the six months to 30 September 2019 compared to the prior period. Net Profit After Tax Attributable to Shareholders was $7.0 million, after a -$0.9m impact of applying the new IFRS16 accounting standard. Before the application of IFRS 16, Net Profit After Tax Attributable to Shareholders was steady at $7.9m compared to $8.1 million in the prior period. Result Summary: ? Revenue of $275m (-2.5%) ? Operating Profit $16.0m (+7.4%) ? Net Profit After Tax Attributable to Shareholders of $7.0m (-14.1%) ? Net Profit After Tax Attributable to Shareholders before the application of IFRS16 $7.9m (-3.0%) ? Pharmacy Revenue down 4.5% and Operating Profit down $1.7m at $12.2m ? Medical performed strongly with Revenue up 10.9% and Operating Profit up 87.1% to $3.8m ? Community Health Revenue down 4.0% and Operating Profit up $1.1m to $1.0m ? Operating Cash Flow $22.1m (before the application of IFRS 16 $13.1m) ? Net Debt reduced $11.9m to a conservative $32.2m ? Interim Dividend consistent with prior period at 3.5 cents per share ? The full year impact of IFRS 16 on Net Profit After Tax Attributable to Shareholders is estimated to be between -$1.3m to -$1.7m based on current leases. Please refer to the attached unaudited interim financial statements and supporting documents for further information. End CA:00344883 For:GXH Type:HALFYR Time:2019-11-26 08:30:37