Third Age Health Services (TAH)FY26
PBT up 25.7% on ARC scale, full-year dividend reset to 8.0c
Aged-care consolidation lifted earnings and revenue mix, but a halved dividend and weaker cash conversion signal a clear reinvestment pivot.
Revenue rose 17.9% to $22.5m, with profit before tax up 25.7% to $4.4m and NPAT attributable to shareholders up 21.7% to $2.8m. Aged Medical Care (ARC) did almost all of the heavy lifting: ARC revenue grew to $14.9m and lifted to 66.3% of group revenue from 61.6%, while the Community GP business rose only 3.2% to $7.6m. Effective tax rate was stable at 29.4% versus 29.2%, so the operating read is genuinely PBT-led rather than tax-flattered.
29 May 2026
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