Radius Care Reports Strong Q1FY25 Performance and Strategic Expansion Plans

Radius Residential Care Limited (NZX: RAD) has announced robust trading results for the first quarter of FY25, outperforming the same period in FY24. Key achievements include:

• Increased occupancy and higher underlying EBITDA per bed compared to FY24.
• Reduced interest costs, down from NZ$2.4 million in Q1FY24 to NZ$1.7 million in Q1FY25.
• Successful resales of village units, with all vacant stock under contract, expected to settle in 2024.

Radius Care has reaffirmed its guidance, anticipating key metrics for the full year FY25 to surpass FY24 despite operating one less care home. Additionally, Radius Care has signed a non-binding Memorandum of Understanding with Senior Trust to explore new lease opportunities, potentially adding up to 400 new beds over five years. The Annual Shareholders’ Meeting is scheduled online and at the Hyundai Marine Sports Centre today at 10:30am.

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