July 20, 2017 / 11:46 PM / 7 months ago

Australia's Primary Health Care tracking to bottom of guidance, flags writedown

July 21 (Reuters) - Australian medical centre and laboratory operator Primary Health Care Ltd said on Friday it expects underlying profit for the year to June 30 to be at the lower end of its guidance.

It expects underlying net profit after tax to be A$92 million ($73.16 million), the bottom of its forecast range, but slightly higher than the A$91.5 million predicted by 9 analysts surveyed by Thomson Reuters I/B/E/S.

Primary Health Care also said it expects to book a non-cash impairment of approximately A$575 million, mostly against medical centres’ goodwill. The company in February allocated goodwill of A$849.6 million to its medical centres. ($1 = 1.2575 Australian dollars) (Reporting by Susan Mathew in BENGALURU; Editing by Tom Westbrook and Christopher Cushing)

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