Retirement village and rest home operator Ryman Healthcare has announced a realised profit of $61 million for the year, up 16% on last year and a new record for the company.The reported profit also increased, up 19% to $78 million thanks to unrealised val
Retirement village and rest home operator Ryman Healthcare has announced a realised profit of $61 million for the year, up 16% on last year and a new record for the company.
The reported profit also increased, up 19% to $78 million thanks to unrealised valuation gains.
Operating cashflows were up 31% to $149 million for the year, which allowed the company to reinvest $120 million in new facilities without increasing debt.
Trading revenue was up 19% to $109 million, total income was up 18% to $176 million and the fair value movement of investment properties was up 16% to $66 million.
Earnings per share were up 19% to 15.8c per share.
Ryman shareholders will receive a 16% increase in their annual dividend. The final dividend of 3.4c per share will be paid on June 25.
This is a “great result” for the company, according to chairman Dr David Kerr.
“We are particularly pleased to have been able to achieve strong growth in earnings from our completed villages and to be able to continue to fund the building of our new villages out of operating cashflows.”
Over the past four years the company has consistently built close to 450 new units/rooms per year, and now has a portfolio of over 4200 units/rooms.
The company is currently building at seven villages, has increased its land bank to 1900 units/rooms, and says it is well placed to continue at its current build rate for the foreseeable future.
Ryman currently owns 21 villages nationwide, and plans to open two new villages every year.
