Business

Aveo gets takeover bid, flags profit fall

Aveo has received a confidential takeover offer, while also flagging a full-year profit slump. (AAP)

Aveo Group says it has received a confidential takeover offer, while also flagging a slump in full-year profit.

Aged-care operator Aveo Group says it has received a confidential takeover offer while also flagging a slump in full-year profit, citing subdued property market conditions.

Aveo said on Monday it now expects underlying profit for 2019 to be about $50 million.

The company reported underlying profit of $127.2 million in 2018.

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