Decline in profit and earnings per share despite revenue growth: Shares of Japara Healthcare tumbled 13.4% on August 28, 2017 after reporting a 2.3% decline in net profit after tax at $29.7 million (FY16: $30.4 million) despite 10.7% yoy (year on year) growth in total revenue at $362.2 million (FY16: $327.3 million) and 7.3% growth of EBITDA at $60.2 million (FY16: $56.1 million). The company has secured the land and licenses for 11 greenfield developments in line with its medium-term growth strategy. JHC witnessed steady average occupancy at 94.6% (excluding facilities under development) with total operational places up 3.3% to 3,841. Developments program during FY17 include 4 extensive brownfield developments completed delivering 124 premium rooms with a further 179 in progress; 5 additional land sites secured in optimal metropolitan locations to support greenfield development program; and 1,050 licenses held to support the development program including 266 allocated in FY17. Further, commencement of a significant refurbishment program upgrading 14 facilities over the next 2 years has been highlighted.