1300 Smiles (ASX:ONT) Stays Steady: FY 2018 Annual Results

Dental aggregator 1300 Smiles announced a decent set of results today. Here are the highlights:


  • Over-the-counter revenue up 9.6% to $55.8 million (this includes revenue earned by the self employed dentists that 1300 Smiles provides services to).

  • Statutory revenue up 8.8% to $39.3 million

  • Dividends up 4.3% to 24 cents or a trailing twelve month yield of 3.6% based on the current share price.

  • Earnings-per-share (EPS) up 5% to 32.2 cents

  • Net profit after tax (NPAT) up 5% to $7.6 million

  • Free cash flow was $0.2 million compared to $3.6 million last year as the company ramped up its acquisition activity.

  • Operating cash flow was up 18.2% to $10.4 million

  • Net cash of $0.3 million


The following chart shows the relatively steady upward trajectory of the company over recent years barring the blip in 2013/2014 which was impacted by the withdrawal of the Chronic Disease Dental Scheme (CDDS). Note there is also a clear seasonality to the business with H1 typically stronger than H2. (Click image to view).

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GBST Holdings (ASX:GBT) 2018 Annual Results

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