Green Cross Health Limited logo

Green Cross Health Interim Report 30 September 2018

Earnings Results18 December 2018GXHHealthcare

2 018
Half Year Report

www.greencrosshealth.co.nz

GREEN CROSS HEALTH
As at 30 September 2018

Our purpose:

Working together

to support healthier

communities.


We are passionately

committed to the

health and wellness of

New Zealand, and to

providing the best support,

care and advice to our

communities.


This is our promise.

Who we are...

The story behind

Green Cross

Health

Since the 12th century,

a green cross has been

used to represent health

professionals and first

took the form of a serpent

wrapped around the jade

hilt of a sword, used by the

Hospitallers of St Lazarus

in Greece. Widely recognised in

Europe and the USA as


identifying a place to find health care and advice,

we are proud to embrace this legacy in our company

name and the icon we use to identify ourselves.

clinical staff including

qualified nurses, occupational

therapists & physiotherapists

specialist

nursing

services

through Total

Care Health

clients

21,400

community

nurses

166

We believe easy access to

good health care is a right

of everyone in New Zealand

community health

support workers

3,500

Green Cross Health

equity pharmacies

91

64

298

community health

362

pharmacies

310

doctors

nurses

350

41

medical centres

MILLION

31.7

home visits

each year

million

3.8

servicing

255,000

patients

prescription

items dispensed

annually

2

work together.

3

do the right thing.

1

care for our community.

4

look after each other.

our values

HALF YEAR REPORT 2018
1

Business summary

02

Consolidated interim statement of comprehensive income

04

Consolidated interim statement of changes in equity

06

Consolidated interim statement of financial position

08

Consolidated interim statement of cash flows

10

Notes to the financial statements

13

Company directory

25

Contents

2
GREEN CROSS HEALTH

Business

summary

For the six months ended 30 September 2018

9

%

increase in group

revenue to $282m

2 .1

%

increase in pharmacy

same store sales

Green Cross Health has experienced strong revenue growth, recording a 9%

increase in Revenue to $282m for the six months to 30 September 2018.

However, Net Profit after Tax attributable to our shareholders was down 7.1%

at $8.1m compared $8.8m for the prior period.

Result Summary

• Revenue of $282m up 9%

• EBITDA at $18.4m down 5.2%

• Operating Profit $14.9m down 9.5%

• Net Profit after Tax attributable to shareholders of $8.1m down 7.1%

• Pharmacy revenue growth of 2.2% but Operating Profit down 3.8%

at $13.9m

• Medical performed strongly with Revenue up 37.5% and Operating Profit

up 32.4% to $2m

• Revenue growth in Community Health up 15.3% but Operating Profit down

$1.1m to $0.3m

• Operating Cash Flow returned to normal level at $8.8m

• Net Debt $44.1m up $5.6m primarily due to investment in new acquisitions

• Interim Dividend consistent with prior period at 3.5 cents per share.

Pharmacy Division

Pharmacy revenues of $170.0m, up 2.2% on the same period last year, were

driven by strong dispensary sales up 4.6% and head office revenues while retail

sales remain consistent with the prior year.

Retail sales were influenced by a record low cold and flu season with the

cough/cold and pain categories down 8.6% year-on-year. Conversely, the

beauty categories saw a 7.2% year-on-year increase.

Same store sales growth was 2.1%, while store Gross Margin was down 2.1%

to 34.8%, given the change in sales mix and increased promotional activity.

With focus on cost control Operating Profit before Interest and Tax was $14.5m,

down $0.6m, resulting in an operating margin of 8.2%.

The pharmacy network continues to grow, to 362 Unichem and Life

Pharmacies, with the addition of 5 Licensees in the period.

Medical Division

Revenue for the Medical division increased 37.5% to $34.3m, with Operating

Profit up by 32.4% to $2.0m, driven by improved operational efficiency and

acquisitions. Operating Margin decreased from 6.1% to 5.8% impacted by new

greenfield and acquired medical centre margins. Same centre revenue growth

was 4.9%.

HALF YEAR REPORT 2018
3

Business summary

8

%

increase in medical

centre patient

numbers to 255,000

32.4

%

increase in medical

operating profit to $2m

• For Medical, network and patient growth through targeted acquisition,

building The Doctors brand profile, improving patient access, and

operational efficiency.

• In Community Health, growing the higher needs client base, working with

funders to ensure sustainable provision of home care services and competing

for government tendered services with sustainable margins.

Green Cross Health remain focused on providing accessible, quality primary

health care through our network of health care experts. Our trusted brands

will continue to offer convenient access to the products and services that our

customers want.

Dividend

The Directors have resolved to pay a fully imputed interim dividend of 3.5 cents

per share to shareholders on the register as at 5pm on 11 December 2018.

The dividend will be paid on 21 December 2018.

Thank you to all our loyal customers and to our staff for their ongoing

commitment to providing the best support, care and advice in almost every

New Zealand community.

For and on behalf of the Board

Peter Merton

Chair

Organic growth and three newly acquired medical centres in the period resulted

in an increase in enrolled patients to 255,000, an increase of 18,480 or 8%

since March 2018 and 16% in the last year. The number of practices

in the equity network is now 41, up 10 from this time last year.

Increasing scale and operational capability in Medical is core to the

Green Cross Health growth strategy.

Community Health Division

The Community Health division continued to deliver revenue growth at $78.1m

up 15.3%. Excluding the increase in revenue from funding for support worker

wages, under the Pay Equity settlement, the revenue increase was 8.2%.

All segments contributed to this growth with the ACC portfolio up 3.5%, nursing

specialists Total Care Health up 5.9% and the DHB portfolio up 10.6%.

Revenue growth did not translate to profit due to the continued shortfall in

funding and an increase in leave liability due to Pay Equity. Discussions continue

between industry representatives and the Ministry of Health and District Health

Boards on this issue.

The Community Health Segment Operating profit before Interest and Tax

was $0.3m, down from $1.4m. Targeting higher clinical needs segments,

exiting unprofitable contracts and operational efficiency will lead to

improved profitability.

Future Focus

The group remains on track as the leading primary health care provider

delivering sustainable care in our communities. Priorities for the coming

period include:

• In pharmacy, a focus on core retail disciplines, growing the franchise network,

expanding e-commerce, utilising the Living Rewards loyalty programme for

digital engagement with customers, and operational efficiency.

255,000 patients

4
GREEN CROSS HEALTH

Consolidated

Interim statement of

comprehensive income

For the six months ended 30 September 2018

NoteSix months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Operating revenue 5.1

282,375 258,954

Operating expenditure 5.2

(263,988) (239,568)

Depreciation and amortisation

(3,890) (3,349)

Share of equity accounted net earnings

438457

HALF YEAR REPORT 2018
5

Consolidated interim statement of comprehensive income

Six months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Operating profit before interest and tax

14,935 16,494

Interest income

38116

Interest expense

(1,110)(1,179)

Profit before tax

13,863 15,431

Tax expense

(3,788)(4,310)

Profit and total comprehensive income for the period

10,075 11,121

Profit after tax and total comprehensive income for the period attributable to:

Shareholders of the Parent

8,147 8,768

Non-controlling interest

1,928 2,353

Earnings per share:

Basic earnings per share (cents)

5.69 6.25

Diluted earnings per share (cents)

5.68 6.23

The consolidated interim financial statements should be read in conjunction with the accompanying notes

6
GREEN CROSS HEALTH

Consolidated

Interim statement of

changes in equity

For the six months ended 30 September 2018

September 2018

NoteShare

capital

$’000

Retained

earnings

$’000

Non-

controlling

interest

$’000

Total

equity

$’000

As at 1 April 2018

90,609 30,346 7,108 128,063

Profit and total comprehensive income for the period

8,147 1,928 10,075

Transactions with owners, recorded directly in equity

Issue of shares

6

Dividends to shareholders

7 (5,010)(5,010)

Distributions to non-controlling interests

(1,046)(1,046)

Impact of other transactions with non-controlling interests

(243)383140

Share scheme amortisation

1 1

As at 30 September 2018

90,610 33,240 8,373 132,223

HALF YEAR REPORT 2018
7

Consolidated interim statement of changes in equity

September 2017

NoteShare

capital

$’000

Retained

earnings

$’000

Non-

controlling

interest

$’000

Total

equity

$’000

As at 1 April 2017

83,887 23,488 4,855 112,230

Profit and total comprehensive income for the period

8,768 2,353 11,121

Transactions with owners, recorded directly in equity

Issue of shares

6 3,297 3,297

Dividends to shareholders

7(4,883)(4,883)

Distributions to non-controlling interests

(1,251)(1,251)

Impact of other transactions with non-controlling interests

(106)(106)

Share scheme amortisation

1111

As at 30 September 2017

87,195 27,267 5,957120,419

The consolidated interim financial statements should be read in conjunction with the accompanying notes

8
GREEN CROSS HEALTH

Consolidated

Interim statement of

financial position

As at 30 September 2018

NoteAs at

30 Sep 2018

(Unaudited)

$’000

As at

31 Mar 2018

(Audited)

$’000

As at

30 Sep 2017

(Unaudited)

$’000

Current assets

Cash and cash equivalents

9,688 10,754 14,704

Trade and other receivables

25,78323,075 24,582

Contract assets

212,07113,65612,396

Inventories

36,753 34,199 35,316

Total current assets

84,295 81,684 86,998

Non-current assets

Property, plant and equipment

19,927 20,91623,053

Intangible assets

141,781134,948123,659

Contract assets

2793 879498

Deferred tax asset

10,409 10,393 7,832

Equity accounted group investments

6,308 6,264 5,691

Total non-current assets

179,218173,400 160,733

Total assets

263,513 255,084 247,731

HALF YEAR REPORT 2018
9

NoteAs at

30 Sep 2018

(Unaudited)

$’000

As at

31 Mar 2018

(Audited)

$’000

As at

30 Sep 2017

(Unaudited)

$’000

Current liabilities

Payables and accruals

71,22465,125 64,659

Contract liabilities

25,4787,3768,277

Income taxes payable

2524,101 836

Borrowings

10,75816,310 6,337

Total current liabilities

87,71292,912 80,109

Non-current liabilities

Payables and accruals

5521,195 1,120

Borrowings

43,026 32,914 46,083

Total non-current liabilities

43,578 34,109 47,203

Total liabilities

131,290 127,021 127,312

Net assets

133,223 128,063120,419

Equity

Share capital

690,610 90,60987,195

Retained earnings

33,240 30,346 27,267

Total equity attributable to shareholders of the Parent

123,850 120,955114,462

Non-controlling interest

8,373 7,1085,957

Total equity

132,223 128,063 120,419

The consolidated interim financial statements should be read in conjunction with the accompanying notes

Consolidated interim statement of financial position

10
GREEN CROSS HEALTH

Consolidated

Interim statement

of cash flows

For the six months ended 30 September 2018

NoteSix months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Cash flows from operating activities

Equity accounted investee dividend received

394 233

Receipts from customers

281,887 255,835

Interest received

38

116

Payments to suppliers and employees

(264,766)(230,480)

Interest paid

(1,109)(1,179)

Income taxes paid

(7,653)(7,208)

Net cash inflow from operating activities

8

8,791 17,317

HALF YEAR REPORT 2018
11

NoteSix months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Cash flows from investing activities

Purchases of property, plant, equipment and software intangibles

(5,387)(4,514)

Acquisition of interests in subsidiaries and associates

(3,637)(365)

Proceeds from sale of shares in subsidiary

688 25

Net cash outflow from investing activities

(8,336)(4,854)

Cash flows from financing activities

Proceeds from new borrowings

19,000 51,813

Repayment of borrowings

(14,439)(64,930)

Shares issued for cash

6– –

Dividends paid – shareholders

(5,035)(1,586)

Net distributions to non-controlling interests

(1,046)(1,251)

Net cash outflow from financing activities

(1,520)(15,954)

Net decrease in cash and cash equivalents

(1,066)(3,491)

Cash acquired: business combinations

––

Add opening cash and cash equivalents

10,754 18,195

Closing cash and cash equivalents as per consolidated interim statement of financial position

9,688 14,704

Reconciliation of closing cash and cash equivalents to the balance sheet:

Cash and cash equivalents

9,688 14,704

Closing cash and cash equivalents

9,688 14,704

The consolidated interim financial statements should be read in conjunction with the accompanying notes

Consolidated interim statement of cash flows

12
GREEN CROSS HEALTH

HALF YEAR REPORT 2018
13

Notes to the

financial statements

For the six months ended 30 September 2018

1. Reporting entity

Green Cross Health Limited (the “Parent”) is a New Zealand company

registered under the Companies Act 1993 and listed on the NZX Main Board

(“NZX”). The Parent is an FMC Reporting Entity for the purposes of the

Financial Markets Conduct Act 2013.

The consolidated interim financial statements of Green Cross Health Limited

comprise the Parent, its subsidiaries, and its interest in associates

and joint ventures (together referred to as the “Group”).

2. Basis of preparation of financial

statements

(a) Statement of compliance

These consolidated interim financial statements have been prepared in

accordance with Generally Accepted Accounting Practice in New Zealand

(NZ GAAP), NZ IAS 34 Interim Financial Reporting, and other applicable

Financial Reporting Standards as appropriate for profit oriented entities. These

consolidated interim financial statements do not include all of the information

required for full annual financial statements and should be read in conjunction

with the consolidated financial statements of the Group as at and for the year

ended 31 March 2018.

This is the first set of the Group’s financial statements where NZ IFRS 15

Revenue from Contracts with Customers and NZ IFRS 9 Financial Instruments

have been applied. Changes to significant accounting policies are described in

note 2(c).

The consolidated interim financial statements for the six months ended

30 September 2018 and the comparative information for the six months

ended 30 September 2017 are unaudited.

The financial statements were approved for issue by the Board of Directors on

26 November 2018.

14
GREEN CROSS HEALTH

2. Basis of preparation of financial

statements (continued)

(b) Basis of measurement

The financial statements of the Group are prepared under the

historical cost basis unless otherwise noted within the specific

accounting policies below.

(c) Changes in accounting policies

Other than as disclosed below, the accounting policies

applied by the Group in these consolidated interim financial

statements are the same as those applied by the Group

in its consolidated financial statements for the year ended

31 March 2018. The Group has not applied any standards,

amendments to standards and interpretations that are not

yet effective.

The Group receives funding from customers to reflect

increased costs incurred in the provision of services by the

Community Health division.In prior periods this additional

funding was offset against personnel costs incurred. This

funding is now recognised as revenue rather than an offset

against personnel costs. The September 2017 comparative

figures have been restated to reflect this change, resulting

in an increase in revenue of $4.803m and a corresponding

increase in operating expenses of $4.803m. The overall net

effect on reported September 2017 net profit and operating

cash flows is nil.

The changes in accounting policies are expected to be

reflected in the Group’s consolidated financial statements as

at and for the year ending 31 March 2019.

The Group has initially adopted NZ IFRS 15 Revenue from

Contracts with Customers and NZ IFRS 9 Financial Instruments

from 1 April 2018. There has been no material effect on

the Group’s financial statements from the adoption of

these standards.

NZ IFRS 15 Revenue from Customers

NZ IFRS 15 establishes a comprehensive framework for determining

whether, how much and when revenue is recognised. It replaced

NZ IAS 18 Revenue, NZ IAS 11 Construction Contracts and related

interpretations. The Group has adopted NZ IFRS 15 using the

retrospective effect method (with practical expedients), with the effect of

initially applying this standard recognised at the date of initial application

being 1 April 2018.

All available practical expedients have been utilised where applicable

and the estimated effect on the financial statements of applying the

expedients has been nil other than the restatement described above

and the reclassification of contract assets and contract liabilities in the

Statement of Financial Position.

Current contract assets represent revenue where the service has been

provided but not yet invoiced to the customer. When the customer has

been invoiced, any outstanding balances are included in receivables.

Non current contract assets represent capitalised contract acquisition

costs. Contract liabilities reflect payments received for services that have

not yet been provided and the payments will be recognised as revenue

over time.

Costs directly related to the acquisition of a contract or renewal of an

existing contract are capitalised and amortised over

the life of the contract.

Notes to the financial statements

HALF YEAR REPORT 2018
15

2. Basis of preparation of financial

statements (continued)

(d) Comparatives

Where appropriate comparative information has been reclassified to

conform to the current period’s presentation.

3. Accounting estimates and judgments

In authorising the consolidated interim financial statements for the six

months ended 30 September 2018, the Directors have ensured that the

specific accounting policies necessary for the proper understanding of the

financial statements have been disclosed, and that all accounting policies

adopted are appropriate for the Group’s circumstances and have been

consistently applied throughout the period for all Group entities for the

purposes of preparing the consolidated interim financial statements.

Inherent in the application of certain accounting policies, judgments and

estimates are required. The Directors note that the actual results may differ

from the judgments and estimates made. The significant judgements made

by management in applying the Group’s accounting policies were the same

as those described in the last annual financial statements, except for new

judgements related to the application of NZ IFRS 15 and NZ IFRS 9.

Notes to the financial statements

16
GREEN CROSS HEALTH

September 2018 Note

Pharmacy

services

$’000

Medical

services

$’000

Community

Health

$’000

Corporate

$’000

Total

$’000

Total revenue

169,994 34,302 78,080 – 282,375

Cost of products sold

(99,244)– – – (99,244)

Employee benefit expense

(30,536)(25,399)(74,665)– (130,600)

Lease expense

(7,949)(1,959)(586)– (10,494)

Other expenses

(15,824)(4,778)(1,809)(836) (23,247)

Depreciation and amortisation

(2,633)(506)(751)– (3,890)

Share of equity accounted net earnings

93345 – – 438

Segment Profit

13,901 2,005 269 (836)15,339

Increase in unfunded leave liability due to pay equity legislation 5.2

(404)

Interest income

38

Interest expense

(1,110)

Profit before tax

13,863

Tax expense

(3,788)

Profit after tax

10,075

Non-controlling interest

(1,928)

Net Profit attributable to the shareholders of the parent

8,147

Reportable Segment assets

197,021 38,260 41,392 (13,160)263,513

Reportable Segment liabilities

*Intersegment eliminations

96,26824,949 23,233 (13,160)*131,290

Notes to the financial statements

4. Segment reporting

The Group has three reportable segments: pharmacy services, medical services, community health and a corporate segment.

The Group’s main operations are in the pharmacy industry providing pharmacy services through consolidated stores, equity accounted investments and franchise stores.

The medical services segment includes fully owned and equity accounted medical centres, and support services provided to these medical centres, as well as medical centres outside

the Group. The community health services segment provide services direct to the community to support independent living.

HALF YEAR REPORT 2018
17

4. Segment reporting (continued)

September 2017

Pharmacy

services

$’000

Medical

services

$’000

Community

Health

$’000

Corporate

$’000

Total

$’000

Total revenue

166,306 24,951 67,697 – 258,954

Cost of products sold

(95,839)– – – (95,839)

Employee benefit expense

(30,709)(18,306)(62,937)– (111,952)

Lease expense

(8,218)(1,438)(564)– (10,221)

Other expenses

(14,678)(3,732)(2,309)(837) (21,556)

Depreciation and amortisation

(2,546)(282) (522)–(3,349)

Share of equity accounted net earnings

135 322 – – 457

Segment Profit

14,450 1,515 1,366 (837) 16,494

Interest income

116

Interest expense

(1,179)

Profit before tax

15,431

Tax expense

(4,310)

Profit after tax

11,121

Non-controlling interest

(2,353)

Net profit attributable to the shareholders of the parent

8,768

Reportable segment assets

184,91234,803 40,528 (12,511)247,731

Reportable segment liabilities

*Intersegment eliminations

96,368 20,892 22,564 (12,511)*127,312

Notes to the financial statements

18
5. Operating Performance

5.1 Revenue

The Group’s operations and revenue streams are those described in the last annual financial statements. The Group’s revenue is derived from contracts

with customers, except for retail sales, patient co-payment fees, rent received and other non-contracted services provided to customers and suppliers.

The nature and effect of initially applying NZ IFRS 15 on the Group’s interim financial statements is disclosed in Note 2.

Revenue from contracts with customers

Six months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Revenue from contracts with customers

181,789 159,304

Revenue from other sources

100,58699,650

282,375 258,954

Six months ended 30 September 2018

Pharmacy

services

$’000

Medical

Services

$’000

Community

Health

$’000

Total

$’000

Timing of revenue recognition

Transferred at a point in time

66,217 6,45554,92472,672

Transferred over time

15,77415,34423,075109,117

81,99121,79977,999181,789

Disaggregation of Revenue

Reportable segments

HALF YEAR REPORT 2018
19

Notes to the financial statements

Six months ended 30 September 2017

Pharmacy

services

$’000

Medical

Services

$’000

Community

Health

$’000

Total

$’000

Timing of revenue recognition

Transferred at a point in time

63,2184,28447,58167,502

Transferred over time

13,26610,96519,99091,802

76,48515,24867,571159,304

5.2 Operating expenses

Six months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Cost of products sold

99,244 95,839

Employee benefit expense

130,600111,952

Lease expense

10,49410,221

Other expenses

23,65121,556

263,988 239,568

Employee benefit expense includes $0.404m cost as a result of the pay equity implementation within the Community Health

business not being fully funded by the Ministry of Health (Sept 2017: nil, March 2018: $1.94m)

5.1 Revenue (continued)

20
GREEN CROSS HEALTH

HALF YEAR REPORT 2018
21

6. Shares on issue

As at

30 Sep 2018

(Unaudited)

’000

As at

31 Mar 2018

(Audited)

’000

As at

30 Sep 2017

(Unaudited)

’000

Shares authorised and on issue

Opening number of shares

143,486 139,835 139,835

Shares issued – fully paid

–3,651 1,578

Shares held as treasury stock

143,486

(333)

143,486

(333)

141,413

(333)

Closing number of shares

143,153 143,153 141,080

Net tangible liabilities per share (cents)

(14.50)(12.68)(8.20)

Net assets per share (cents)

92.3789.4685.36

7. Distribution to owners

On 29 June 2018 Green Cross Health Limited paid a final dividend for the March 2018 year of 3.5 cents per qualifying ordinary share to shareholders,

which was fully imputed to 28%.

22
GREEN CROSS HEALTH

9. Subsequent events

On 26 November 2018 Green Cross Health Limited declared dividends of 3.5 cents per qualifying ordinary share, which will be fully imputed to 28%.

No adjustments are required to these consolidated interim financial statements in respect to this event.

8. Operating cash flows reconciliation

Six months ended

30 Sep 2018

(Unaudited)

$’000

Six months ended

30 Sep 2017

(Unaudited)

$’000

Profit after tax for the period

10,075 11,121

Add/(deduct) non-cash items:

Depreciation & asset write-off

3,890 3,349

Other non-cash items

(703) 28

Add/(deduct) changes in working capital items:

Receivables and accruals

(1,123)(3,116)

Inventory

(2,554)(1,603)

Payables and accruals

(794) 7,538

Net cash inflow from operating activities

8,79117,317

HALF YEAR REPORT 2018
23

24
GREEN CROSS HEALTH

HALF YEAR REPORT 2018
25

Registered office

Green Cross Health Limited

Ground Floor, Building B

602 Great South Road

Ellerslie, Auckland 1051

Telephone: +64 9 571 9080

Board

P M Merton, Chair

J A Bagnall, Non-Executive Director

J B Bolland, Non-Executive Director

P J Williams, Non-Executive Director

A W Edwards, Independent Director

M M Millard, Independent Director

K A Orr, Independent Director

C M Steele, Independent Director

Officers

S J Browning Group CFO

Board Secretary

J H Greenwood BCom, FCA

Green Cross Health Limited

Private Bag 11 906

Ellerslie, Auckland 1542

Auditor

KPMG

KPMG Centre

18 Viaduct Harbour Avenue

Auckland

Bankers

Bank of New Zealand

80 Queen Street

Auckland 1010

Company

directory

As at 30 September 2018

Share registrar

Computershare Investor

Services Limited

Private Bag 92119

Level 2

159 Hurstmere Road

Takapuna

Auckland 0622

Websites

www.greencrosshealth.co.nz

www.access.org.nz

www.lifepharmacy.co.nz

www.livingrewards.co.nz

www.thedoctors.co.nz

www.unichem.co.nz

Managing your

shareholding online:

To change your address, update

your payment instructions and

to view your registered details

including transactions, please visit;

www.investorcentre.com/nz

General enquiries can be

directed to;

enquiry@computershare.co.nz

Private Bag 92119

Auckland 1142

Telephone: + 64 9 488 8777

Facsimile: + 64 9 488 8787

Please assist our registrar by

quoting your CSN or

shareholder number

Green Cross Health Ltd
Ground Floor, Building B

602 Great South Road

Ellerslie, Auckland 1051

Private Bag 11906

Ellerslie, Auckland 1542

www.greencrosshealth.co.nz

03126

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