Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Ryman announce annual net profit of $15.3 million

Ryman announce record annual net profit of $15.3 million

Leading New Zealand retirement village operator Ryman Healthcare today posted a record net profit after tax of $15.3 million, up $4 million from last year.

Ryman recorded an annual dividend to shareholders of 7.5c, a 34 percent increase on the previous period.

The final dividend of 4.5c will be paid on June 27. There are no imputation credits attached to the dividend and the record date for entitlements is June 13.

The company now owns 12 retirement villages which produced a net operating cashflow of $39.7 million in the year to March 31, up $3 million on last year.

Ryman's net assets per share rose 12c to $1.24.

The highlight of the record financial year was the opening of the luxury Grace Joel village at St Heliers in Auckland.

Ryman has been given the green light to construct the company’s largest village next to the Remuera golf course in Auckland. A new site has also been acquired in Napier.

Four new hospital facilities were opened in Kilbirnie, Lower Hutt, Invercargill and St Heliers.

Ryman provided homes and care services to over 2000 New Zealanders, employing over 1000 staff.

Managing director Kevin Hickman said 2002-03 had been an excellent year and has provided the company with a strong platform for future growth.

''Grace Joel has been a huge success. We have also begun preliminary work at Napier and Remuera and we are quite optimistic about our future prospects.''

The company is expecting steady earnings growth in the next year.

New Zealand's elderly population was increasing in number and demand for Ryman’s facilities and services will only continue to grow.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>