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

 


Ryman reports record half yearly profit


Ryman reports record half yearly profit

Listed retirement village operator Ryman Healthcare today posted a record half yearly net profit of $8.4 million – up 10 percent on last year.

Ryman reported operating cash flows of $28 million and total revenue rose 16 percent for the year to September 30.

Chairman David Kerr said there was a significant lift in contribution from ongoing earnings.

Ryman was included in the NZX50 in September following a successful placement of $48 million of shares.

The company was recently named a finalist along with Vodafone and Sky Tv in the Top 200 Awards in the best growth strategy section.

In the current financial period, the leading village operator opened two new hospitals – at Rita Angus in Wellington and Shona McFarlane in Lower Hutt.

Major extensions were completed to the resthome / hospital at Grace Joel where 64 beds were added. Construction work of a new village has started in Napier.

Dr Kerr said he anticipated group earnings would be maintained in second half of the financial year.

``The results for the first half confirm that ongoing earnings have certainly lifted. The group is currently performing to our expectations,’’ he said.

He said the first six months for the 2003-04 year was very satisfactory.

Ryman operates 12 retirement villages from Auckland to Invercargill.

Focus for further development continues to be on North Island centres. Ryman provide homes and care services to more than 2000 New Zealanders, employing more than 1000 staff. The company is the leading retirement village operator in New Zealand on profitability.

Copyright 2003. Word of Mouth Media NZ


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news