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Estia Health cuts FY17 earnings guidance

AAP logoAAP 6/10/2016

Aged care provider Estia Health has cut its full-year earnings guidance by as much as 18 per cent largely because of low occupancy growth and higher than projected costs.

Estia on Thursday said it expects earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2016/17 financial year of between $86 and $90 million, down from the minimum $104.8 million it predicted when reporting its 2015/16 results on August 29.

The company expects its non-labour operating expenses to be $11.7 million higher than previously forecast.

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