News: Vision Eye Institute eyes capital raising

Vision Eye Institute (ASX:VEI) has been granted a trading halt for its shares by the ASX as the company looks to finalise a capital raising.

The announcement will be made before the commencement of trading on 17 October 2014.

Recent financial results for FY 2014 included:

- Revenue increased $3.5 million with an increase in day surgery procedures consistent with industry trends
- EBITDA $26.0 million in line with mid point of guidance
- Profit after tax increased 40% to $13.2m reflecting significantly lower interest expense and $1.9m one off insurance proceeds
- EPS of 7.9 cents per share
- Bank debt reduced from $47.5 million to $38.5 million (Net debt at 30 June 2014 $27.0 million)
- FY14 fully franked final dividend of 1.25 cents per ordinary share