Hard to understand NTA per share just now, after the UCG acquisitions in May and the Matamata Country Lodge settlement in September along with the share issue to the vendor that part funded the latter transaction.
Sign of sleepiness/lack of initiative when you look at the website and see that the blurb re the mix of leasehold and freehold properties has not been changed to adjust for these transactions.
I thought the key commentary was " Excellent progress made in international nurse recruitment resulting in 120 nurses starting in early 2023 filling all current vacancies ". Imagine if this achievement is replicated elsewhere in the aged care sector!
Of course, it begs the question what impact upon ongoing profitability a further 120 salaries has.
I thought the key commentary was " Excellent progress made in international nurse recruitment resulting in 120 nurses starting in early 2023 filling all current vacancies ". Imagine if this achievement is replicated elsewhere in the aged care sector!
Of course, it begs the question what impact upon ongoing profitability a further 120 salaries has.
Ha I like your thinking sack them all & make the rest redundant saving money=more profit ,could catch on that philosophy for running a business thanks for that .
Anything else you would like to cut to Increase dividends heating possibly
I was simply pointing out that if 120 nurses are required simply to fill current vacancies across the business (which is as a specialist care provider, rather than the usual RV operator although there are a small number of villas and ILU's) then at an average salary cost of, say, $70k each that is overhead of a further $8.4m pa. The NPAT for the most recent half year was $1.7m. So, unless there is a compensating revenue increase within the business as a consequence of their employment it will move to loss making.
The business has 1865 beds currently across 24 facilities. So these international nurses will need to be distributed across the country. The problem with providers like Radius is that the ratio of staff to beds needs to be much lower than is the case for other RV operators who offer independent living opportunity rather than focusing on care.
The only relief is that a 5.5% increase in the Government care subsidy kicked in on 1 September, although this is less than the rate of inflation. And it seems (although I haven't seen the announcement) that the Government has just approved some further contribution to enable nurses at aged care facilities to move to wage parity with nurses in the hospital sector.
Actually, that’s exactly what you were advocating - the more nurses that Radius recruit, the lesser the company’s profitability so cut back the number of nurses.
Fact is that aged care operators are desperately short of staff and that has been holding back additional profitability.
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