Full Year Results to 31 May 2007

Abano Healthcare Group today announced its audited full year results for the year to 31 May 2007 with a record operating net profit after tax (NPAT) of $5.0 million.

This result was up 213 percent on the 2006 operating result of $1.6 million (excluding the gain on the sale of ElderCare). Operating revenue for the year was $89.5 million, with additional other income of $0.5 million, including the gain on sale of investments from the divestment of Nelson Diagnostic Limited and Biostandards. There was a 107 percent increase in operating Earnings Before Interest
Tax Depreciation and Amortisation (EBITDA) from $6.7 million to $13.9 million.

This improved performance was driven by growth in the Abano portfolio and continuing improvements in trading margins in all existing businesses into the second half of the financial year. The 2007 financial year had a full twelve months contribution from both Bay Audiology and the Orthotic Centre, in addition to the continued organic expansion and acquisition of businesses in Audiology, Dental and Radiology.

Read the full results announcement attached.

2007 Annual Results - 30 July 07