WELLINGTON, Nov 23 (Reuters) - New Zealand aged care provider Ryman Healthcare Ltd on Monday reported a 10 percent rise in first half profit because of strong demand for space in its retirement villages.
Ryman, the country's largest listed investor in retirement villages, posted a profit for the six months to Sept 30 of NZ$38.5 million ($27.9 million), including gains from unrealised revaluations. That compared with NZ$35 million a year earlier.
The realised profit excluding the revaluations was NZ$29 million, up 12 percent on a year earlier.
'Our occupancy across the board is at all time highs and the recurring earnings from our completed villages are just getting stronger,' chairman David Kerr said in a statement.
Ryman declared an increased interim dividend of 2.7 cents per share from 2.2 cents last year.
Shares in Ryman, a top-15 company, last traded at NZ$1.96.
In July, the company's chairman told Reuters in an interview that its medium-term goal was to return to 15 percent annual earnings growth.
($1=NZ$1.38)
((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212,
wellington.newsroom@reuters.com)) Keywords: RYMAN (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Ryman, the country's largest listed investor in retirement villages, posted a profit for the six months to Sept 30 of NZ$38.5 million ($27.9 million), including gains from unrealised revaluations. That compared with NZ$35 million a year earlier.
The realised profit excluding the revaluations was NZ$29 million, up 12 percent on a year earlier.
'Our occupancy across the board is at all time highs and the recurring earnings from our completed villages are just getting stronger,' chairman David Kerr said in a statement.
Ryman declared an increased interim dividend of 2.7 cents per share from 2.2 cents last year.
Shares in Ryman, a top-15 company, last traded at NZ$1.96.
In July, the company's chairman told Reuters in an interview that its medium-term goal was to return to 15 percent annual earnings growth.
($1=NZ$1.38)
((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212,
wellington.newsroom@reuters.com)) Keywords: RYMAN (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.