Medical centres operator and pathology provider Primary Health Care has unveiled a near 50 per cent rise in full year profit and forecast stronger earnings in 2012/12.

Primary lifted its net profit for the year to June 30 by 49 per cent to $116.6 million, from $78.3 million in 2010/11.

Revenue climbed 5.3 per cent to $1.4 billion.

Primary impressed investors by forecasting a 20-25 per cent rise in earnings per share (EPS) in 2012/13.

Its EPS was 23.3 cents a share in 2011/12.

Primary also expects earnings before interest, tax, depreciation and amortisation to climb to $370-380 million in 2012/13, from $351.1 million in 2011/12.

“Primary is able to look forward to strong growth as a result of the underlying strength of the business, positive industry dynamics, and long-term increasing demand for healthcare services,” Primary said in a statement on Wednesday.

Shares in the company were 34 cents, or 11 per cent, higher at $3.43 at 1038 AEST.

Primary, which operates 76 medical centres, said it expected consolidation in the industry to continue and would look for small bolt-on acquisitions.

Its medical centres, pathology and medical imaging divisions all lifted their earnings and revenue during 2011/12.

However, the health technology division recorded flat earnings and revenues.

Managing director Dr Edmund Bateman said Primary’s strong result for 2011/12 had been driven by organic growth.

“Current industry dynamics and community health needs have Primary well-positioned to benefit from continued organic growth,” he said in a statement.

“The economic climate continues to favour consolidation of healthcare providers, to the benefit of the Primary model of affordable community health care provision.”