VISION EYE INSTITUTE LIMITED (VEI)



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General Information
Company Name: Vision Eye Institute Limited
Stock Code: VEI
Website: www.vgaustralia.com
GICS Sub-Industry: Health Care Services
Market Cap ($M): 110
Equiv. Shares (M): 159

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.700 $ 0.705 $ 0.705 $ 0.700 $ 0.690 103,829 $ 0.010  1.449 %

Company Overview

Business Description:
Vision Eye Institute Limited (VEI) provides ophthalmic services comprising eighteen dedicated ophthalmic consulting facilities, eight state of the art day surgeries and seven refractive and laser eye surgery centres along the Eastern seaboard of Australia (Vic, NSW and QLD).


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F 13.1 7.8 -25.0 8.8 4.0 5.8 --
2013  F 10.6 10.4 19.5 6.6 3.0 4.4 --
2012  A 8.9 8.7 135.1 1.7 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Vision Eye Institute (VEI) $108 M 1.3459 0.1993 -0.2488 7.8341 6.5322 8.6957 0.0000 0.0441 0.0588

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
VEI 0.72 6.75 1.12 10.00 0.64
Market 1.11 13.3 0.91 2.51 2.66
Sector 0.73 19.3 2.67 1.58 1.89

Directors
Name Position Start Date
Mr Geoffrey Arthur Thompson Chief Executive Officer,Managing Director 24 May 2010
Mr Brett Coverdale Chief Financial Officer,Company Secretary 01 September 2012
Mr Christopher Michael Rogers Executive Director 26 March 2012
Dr Joe A Reich Executive Director 22 January 2007
Mr Michael Lawless Medical Director 22 November 2006
Mr Shane Tanner Non-Executive Chairman 17 December 2004
Ms Zita Peach Non-Executive Director 01 October 2011
Mr Iain Kirkwood Non-Executive Director 17 December 2004
Dr Michael Wooldridge Non-Executive Director 01 July 2012

Management
Name Position
Karen Lopreiato Company Secretary

Substantial Shareholders
Holding Name
4,713,706 (6.00%) Intelligent Investor Funds Pty Ltd
15,303,488 (19.60%) Primary Health Care Limited

Calendar of Events
Date Event
25 February 2014 Report (Interim)
23 October 2013 Report (Annual)
27 August 2013 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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