Quakes fail to dent Ryman
Listed Ryman Healthcare does it again.
Listed Ryman Healthcare continued its seemingly unstoppable profit rise, reflected in a firming share price.
A lift in sales boosted Ryman’s underlying operational profit 15% to $41 million for the half year ending September 2011.
Unrealised property revaluations lifted the bottom line result to $60 million.
As a result of the good performance, shareholders will receive a 15% lift in dividends to 3.9c a share.
The company is beginning to enjoy the benefits of a strong building programme during the past year.
Chairman David Kerr said the result was outstanding given the challenges facing the management team in Christchurch
The company built and opened 199 retirement village units and 170 aged care beds in the six months ended 30 September. In the second half Ryman will be opening new aged care facilities in Gisborne, Christchurch and Tauranga.
Dr Kerr, “so we expect to achieve our target of 15% underlying profit growth for the full year.”
The company recently announced the acquisition of its first site in Melbourne, and has this year purchased land for new villages in Waikanae and Howick. Ryman owns 24 villages, with a combination of retirement living and resthome care, serving more than 5700 residents.
Chris Hutching
Thu, 17 Nov 2011
Thu, 17 Nov 2011
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Quakes fail to dent Ryman
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