Ryman Healthcare signals expansion into Australia
Ryman Healthcare Ltd is looking for a site for its first retirement village in Australia.
Ryman Healthcare Ltd is looking for a site for its first retirement village in Australia.
Chairman David Kerr told shareholders at the annual meeting in Orewa today that an expansion into Australia was the next logical step for the company and that the Ryman model would be relatively unique in the Australian market.
"Shareholders can be reassured that we will be taking one step at a time, and that we will be very focused on getting the first village successfully established," he said.
Growth plans in New Zealand also remained intact, with plans to open at least 450 new units or rooms per annum to add to the existing portfolio of 4400 units or rooms.
"We are currently building on eight sites around New Zealand, and have announced two new site acquisitions this year in Christchurch and Tauranga," said Dr Kerr.
Ryman recently reported a record realised profit of $61 million, and lifted its annual dividend by 16 percent to 6.1 cents per share.
The company was ahead of last year in its first quarter.
"We are on track to achieve our medium term target of 15 percent growth in realised profits for the full year," Dr Kerr said.
Ryman currently operates 21 villages nationwide, offering a combination of retirement living and resthome care. The villages are all designed, built and operated by Ryman.
Shareholders in Ryman include investment companies representing Tainui and Ngai Tahu iwi.
NZPA
Thu, 29 Jul 2010
Thu, 29 Jul 2010
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Ryman Healthcare signals expansion into Australia
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