Shares in Regis Healthcare are on a tear after the aged care provider upped its forecast for full year profits by between 5% and 10%.
The company announced an increase in half year pro forma net profits of 62% to $29.6 million on a 51% increase in revenue to $219.4 million.
However, net profit attributable to members decreased by $2.6 million to $15.1 million, a fall of 10%.
Managing Director Ross Johnston says the strong performance means he now expects earnings and profit to exceed forecasts by between 5% and 10%.
The company, in its September prospectus, forecast a profit of $33.2 million this financial year.
Its shares are trading 10.5% higher at $5.03. The IPO price was $3.65.