Regis Aged Care chief executive Ross Johnston will leave his role with the aged care provider in September.
Regis Aged Care chief executive Ross Johnston will leave his role with the aged care provider in September.
Regis, which reported a 12.6 per cent fall in first-half profit to $24.4 million due to factors including government funding cuts and the opening of three new facilities, said Mr Johnston would leave after nearly 11 years, during which time he led it from private to public ownership.
According to BNIQ data, Regis is the third largest aged care provider by the number of beds in Western Australia, with 989.
The care home operator gave no reason for Mr Johnston's departure and said it was already looking for a successor.
“The board thanks Ross for his strong and effective leadership as CEO over 11 years," chairman Graham Hodges said.
"Ross has been instrumental in Regis’s successful expansion from 4,719 operational places at the date of listing to its current 7,142 operational places across all states of Australia."
Revenue for the six months to December 31 rose 7.5 per cent to $318.2 million, helped by new centres in Brisbane, Newcastle and Perth during the period.
"The result included improved contributions from the new facilities delivered from the development program still ramping up and the company’s significant refurbishment program," the company said.
"However these contributions were more than offset by the headwinds from the federal government cutbacks to residential aged care funding, which were implemented in FY17 and FY18 and have been grandfathering in."
Regis, which recorded $307,000 in first-half costs related to the ongoing royal commission into the sector, maintained its full-year guidance for normalised profit of between $47 million and $51 million.
REGIS RAISES H1 REVENUE
* Net profit down 12.6pct to $24.4m
* Revenue up 7.5pct to $318.2m
* Fully franked interim dividend down 1.16 cents to 8.12 cents
