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Ryman first and only healthcare provider on NZSX50

Ryman becomes first and only healthcare provider on NZSX50

Ryman Healthcare today became the first and only healthcare provider and retirement villager operator to be included on the New Zealand Stock Exchange 50 (NZSX50) index. The stock exchange confirmed its review of the SX50 today, listing Ryman at 35. They are the only Christchurch-based company in the top 50.

Ryman chairman David Kerr said the top 50 listing is a big boost to their profile and gives investors the opportunity to take an interest in the health sector.

The company's inclusion in the NZSX50 index follows the successful placement of $48 million of shares in June, which made more shares available to the public.

Since the placement the volume of trading has increased more than ten-fold with average trading exceeding $100,000 a day. To date the increased level of activity appears to be supporting a stronger share price.

``In the meantime it is business as usual at Ryman, as the company continues to roll out its retirement village concept throughout New Zealand,’’ Dr Kerr said.

``We are continuing to focus on our objective of doubling in size every five years,’’ he said.

Ryman posted a record $15.3 million annual net profit (up 38 percent) in the financial year to June 30. Total revenue was $94.3 million (up 53 percent), with a 52 per cent increase in sales. The company operates 12 retirement villages nationwide and has won approval to construct their largest village next to the Remuera golf course in Auckland. A new site has also been acquired in Napier. Construction work will be seen on these sites next year. Focus for further development continues to be on North Island centres.

Ryman provide homes and care services to 2100 New Zealanders, employing 1050 staff. The company is the leading retirement village operator in New Zealand on profitability.

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