August 14, 2012 / 9:58 PM / 5 years ago

Centric Health profit rises as acquisitions pay off

(Reuters) - Diversified healthcare company Centric Health Corp’s (CHH.TO) quarterly profit more than tripled as acquisitions paid off.

Net income rose to C$42.4 million, or 34 Canadian cents per share, for the second quarter, from C$11.7 million, or 11 Canadian cents per share, a year earlier.

Revenue for the company, which has completed 9 acquisitions in the last two years, more than tripled to C$114.1 million.

Centric Health’s shares, which have fallen 54 percent this year, closed at 75 Canadian cents on Tuesday on the Toronto Stock Exchange.

Reporting by Ankur Banerjee in Bangalore; Editing by Supriya Kurane

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