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Company Announcement 22 November 2021 + Third Age Health THIRD AGE HEALTH HALF YEAR RESULTS Unaudited results for the six months ended 30 September 2021 ( 1H22 ) • • Third Age Health has reported a 12 % year on year increase in net profit before tax as the business positions itself for future growth Solid balance sheet with $ 1.8m in cash at period end Strengthened management team with appointment of new CEO , Tony Wai , effective from 27 September 2021 and Acting CFO , Neil Hopkins , joining the business in June 2021 Refreshed Board with appointment of two new directors Signed agreement for the purchase of Belmont Medical Centre , which was settled on 11 October 2021 , with earnings benefits expected from 2H22 Strategic focus in 2H22 remains on growing Third Age Health's patient population through service contracts with aged care facilities ; acquisition of primary care medical centres ; and ongoing business improvement . Aged care medical services provider , Third Age Health Services ( NZX : TAH ) , has today reported its unaudited results for the six months to 30 September 2021 ( 1H22 ) . Revenue for the period was $ 2.84m , up 3 % on the prior comparative period ( pcp ) , with net profit before tax growing by 12 % to $ 0.93m . Profit growth was primarily driven by a higher margin revenue mix during the period , partially offset by increased corporate and governance costs as a result of being a listed company . The business is in a solid financial position , with zero debt and cash and cash equivalents of $ 1.8m as at 30 September 2021 . Following the listing to the NZX in February 2021 , the focus has been on positioning the company for future growth . The Board and leadership team has been refreshed and strengthened , and a business investment plan is being developed by the newly appointed CEO , Tony Wai , to build the capabilities of the company and create a strong platform for future growth . Third Age Health offers a unique care services model for aged care providers and provides medical care for facilities across six DHB regions , including to some of the largest aged care facility operators in New Zealand . Meeting the needs of existing customers and diversifying the customer base by gaining new contracts is a key focus area . Enabling this is the recruitment of suitable medical practitioners with a growing number of practitioners joining the group . Supporting this strategy is the acquisition of medical centres in the right location , which provide both general care to their existing communities and also expand Third Age Health's pool of practitioners to assist with the provision of medical care to local aged care facilities . During the six months , Third Age Health was pleased to announce the acquisition of Belmont Medical on Auckland's North Shore , which settled post - period end on 11 October 2021. This is in line with the