Foundation Healthcare H1 net profit drops 67.6% despite stronger revenue

Acquisition-related and capital-raising expenses rose to $5.36m during the period.

Foundation Healthcare Holdings Limited (FHH) reported a 67.6% year-on-year drop in net profit attributable to shareholders to $1.23m for the six months ended 30 June 2026 (H1).

The decline comes even as group revenue rose 20.2% to $129.2m, according to a filing.

Profit before tax fell 14.2% to $18.38m, whilst group profit and total comprehensive income declined 21.3% to $12.69m.

Acquisition-related and capital-raising expenses increased to $5.36m from $578,000, primarily due to IPO-related expenses and costs associated with acquisitions.

Employee compensation also rose 27.5% to $59.75m as FHH expanded its specialist network, acquired new practices, and increased corporate headcount ahead of its listing.

Revenue growth was supported by the medical specialists segment, where revenue increased to $125.7m from $104.7m.

The group said this reflected acquisitions completed in the fourth quarter of 2025 and first quarter of 2026, as well as contributions from existing practices.

Adjusted profit after tax fell 17.4% to $16.1m, whilst adjusted EBITDA edged down 0.5% to $39.84m.

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