Radius share price lingering around 25 cents
Still most richly valued stock in the sector trading at about book value
If priced like others in sector share price would be below 20 cents (well below)
I reckon it’ll get down below 20 cents sometime
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Radius share price lingering around 25 cents
Still most richly valued stock in the sector trading at about book value
If priced like others in sector share price would be below 20 cents (well below)
I reckon it’ll get down below 20 cents sometime
I had a huge buy wall set up at .20c couple of weeks ago... but no one was bothered...
Think I'll have to set it up back again....
Our wait and see how things go...
https://www.nzx.com/announcements/412157
Highlights:
• Revenue of $146.3m, up 10% on the comparative period.
• Net Loss After Tax of ($2.1m), down from a profit $2.7m in FY22 due to property valuation movements and higher interest costs.
• Underlying EBITDA of $14.2m (2), 32% up on comparative period.
• Industry leading EBITDAR per bed of $19.9k (2) in line with the comparative period.
• AFFO of $4.0m2, down from $4.2m in the comparative period.
• Total Assets of $356.6m, up $66.5m from 31 March 2022.
• Occupancy at 93.3% at period end vs industry average of 86.1% (March 2023 quarter).
• Completion of a 24-bed extension at Thornleigh Park on budget.
No final dividend for FY23, $10.5m vendor loan to acquire Matamata Country Lodge to step up from 8% to 18% interest and repayable by 23 October 2023, a further $1m borrowed from a related party to Director Brian Cree also at 18% due 23 October 2023 and an "event" triggering an equity raise of not less than $30m by 31 July 2023 to repay existing banking facilities.
So where to now? I missed the call this morning with the CEO and CFO to discuss the results, so can someone clarify how it is?
https://www.nzherald.co.nz/nz/dying-...A4IFGUELZUZMM/
"A dementia patient wandered into the room of a dying man yelling “get him out of my f*****g bed”, while the man’s family desperately tried to call nearby staff.
The next day, the same patient returned and yelled at the unconscious man to wake up before punching a healthcare assistant and then grabbing at the man who was later found lying on the floor with blood on his head. He died several hours later.
The dead man’s family say he died without dignity and made an official complaint into his care at the Tauranga rest home.
Today the Aged Care Commissioner Carolyn Cooper concluded Radius Care, the operators of the home, provided “suboptimal care” by failing to adequately inform the man’s family of the issues, and failing to provide adequate staffing levels."
Radius launched an internal investigation into the repeated intrusions and the man’s death. It found over six shifts, key care assessments were not carried out to determine what level of care Mr A required.
A care plan also wasn’t adequately formed to deal with Mr M’s territorial behaviour. It also found staffing levels in the dementia unit were inadequate.
Mr A’s family told the commissioner he died without dignity. The family would have arrived at the home much earlier had they been informed of the final incident hours before Mr A’s death.
“In my view, there were deficiencies in the care provided to Mr A by multiple staff at Radius Althorp. These were systemic issues for which Radius Althorp bears responsibility,” Cooper found.
“The overall deficiencies in the end-of-life care provided to this man, the inadequate documentation and staffing levels at Radius Althorp, and the inadequate communication with the man’s family, demonstrate a pattern of suboptimal care and a lack of critical thinking from Radius Althorp staff members.”
She recommended Radius provide a written apology, detail efforts taken since its internal investigation, and conduct a random audit of end-of-life care plans over the previous six months.
The report says since the events, Radius Althorp has provided staff with further training and increased staffing levels.
Jeez …RAD share price 20.5 cents at moment
Getting closer to NTA of 17.3 cents
Relative to others in sector share price should be lower than this.
Annual report published today. Will be worth a careful read.
Doesn't seem I should have invested in this company when it raised capital, and see also #244 above not subsequently elucidated.
Yes, and what the article doesn't say, but which is disclosed in the Annual Report, is that the conditional sale of one property as a going concern, entered into only on 19 June 2023 and only possibly settling in September, is for $5.4m total purchase price BUT that the Group expects to incur a loss on disposal (including selling costs) of $1.4m.
This is company under severe short term (hopefully) financial stress and a capital raise under current conditions is not a realistic option. Selling down care homes is extremely difficult currently as the present conditional sale indicates. There is an increase in the daily subsidy rate paid by Government from 1 July but that will barely dent operating costs given the substantial wage increases which have occurred in a very staffing intensive activity.
Something needs to happen to resolve the present crisis. It isn't clear just now what that is. In an effort to provision for a better future the Company has evidently bitten off a bit more than it can chew in an unhelpful environment for the sector!
Share price sinks below 20 cents
Hopefully way forward out of the current financial ‘crisis’ will be known before AGM but irrespective of share price new capital needed.
Still trading above NTA of 17.3 cents so rated/valued as a SUM …hmmmm
Might get interested around 13 cents …depending on circumstances at time