June 23, 2019 / 11:29 PM / 3 months ago

Australia's Aveo receives takeover bid, flags fall in annual profit

June 24 (Reuters) - Australian aged-care operator Aveo Group said on Monday it had received a confidential takeover offer and also flagged a slump in its full-year profit, citing subdued property market conditions.

Aveo said it now expects underlying profit for 2019 to be about A$50 million ($34.67 million). The company reported underlying profit of A$127.2 million in 2018. ($1 = 1.4424 Australian dollars) (Reporting by Aby Jose Koilparambil in Bengaluru)

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