Ryman Healthcare, a leading aged care and retirement village operator, recorded a half year net profit of $38.5 million by the end of September; thanks to rise in property valuation during the period. The company would pay an interim dividend of 2.7c per share against 2.4cps paid last year.
Ryman Chairman David Kerr said that earnings from completed villages are still on rise due to steep rise in occupancy. The firm hopes further rise in earnings after competing two new large scale villages in Whangarei and Orewa during the second half of the fiscal. The firm, having 21 villages by this date, has announced to open two new villages in the next two years.
Mr. Kerr added, "Our occupancy across the board is at all-time highs and the recurring earnings from our completed villages are just getting stronger."
Kerr further said that work on five sites has been going on at fast pace and the firm would achieve its target to complete 300 retirement village units and 150 aged care beds in the ongoing year.
Shares of Ryman surged 2c to close at $1.98 during the early hours of training.