Thursday, 16 May 2013

Ryman breaks $100m mark - underlying profit up 19%

Ryman Healthcare today announced an underlying profit of just over $100.2 million - a new record for the company and up 19% on last year. Unrealised valuation gains lifted the reported profit after tax to $137 million.

"It’s an outstanding result," said Ryman chairman Dr David Kerr, "and marks another very successful year of growth for the company."

"We achieved our target of opening 700 units and beds in New Zealand, and commenced construction of our first village in Melbourne."

The company has lifted its underlying profit every year for the last eleven years.

Ryman shareholders will receive a 19% lift in their annual dividend to 10 cents per share. The final dividend of 5.4 cents per share will be paid on June 21, with the record date for entitlements being June 7.

Operating cashflows were also at record levels with $222 million generated, allowing the company to self-fund its building activity. The company built 517 new retirement village units and 226 new aged care rooms during the year.

The company remains committed to building in New Zealand, to meet the growing need for both new aged care facilities and new housing for older people.

"We are delighted to announce the purchase of a new site in the Auckland suburb of Birkenhead," said Dr Kerr. "You can expect to see more land acquisitions in the year ahead as we lift our New Zealand landbank from three to four year’s stock."

The company recently appointed its first Australian director, George Savvides, to the Board. George is Managing Director of Medibank, Australia’s largest health insurer.

Statistics NZ estimates the number of New Zealanders aged 75 plus will almost triple to 731,000 over the next thirty years. In Victoria the outlook is similar, with the number set to triple to 1.1 million.

Established in 1984 Ryman has become one of NZ’s largest listed companies. The company currently owns 25 villages and serves over 7,000 residents. Each village offers a combination of retirement living and aged care.

Note: Underlying profit excludes deferred taxation and unrealised gains on investment properties, because these items are non-cash and do not reflect the trading performance of the company. Underlying profit determines the dividend payout to shareholders, and is reconciled to reported profit in the key statistics attached to this release.

Wednesday, 01 May 2013

Ryman Appoints First Australian Director

Ryman Healthcare announced today the appointment of George Savvides as its first Australian director.

Mr Savvides is Managing Director of Medibank, Australia’s largest health insurer. He is also Chair of World Vision Australia and is a member of the Australian Institute for Population Ageing Research.

“We are delighted that George has accepted our invitation,” said Ryman chairman Dr David Kerr.

“George brings to the Board over 20 years of healthcare experience, in both the commercial and the public sectors. His local expertise will be invaluable as we seek to establish ourselves in the Australian market.”

Under George’s leadership, Medibank has enjoyed record membership growth and strong financial performance. Medibank’s revenue has grown to over AU$5 billion per annum, with a customer base of 3.7 million people.

George joins the Board as a non-executive independent director.

Construction is underway on Ryman’s first Australian village in the Melbourne suburb of Wheelers Hill.

Last year the company lifted its build rate in New Zealand to 700 retirement units and aged care beds.

Statistics NZ estimates the number of New Zealanders aged 75 plus will more than double to 538,000 over the next twenty years. In Australia the outlook is similar, with the number set to double to 2.8 million.

Established in 1984 Ryman has become one of NZ’s largest listed companies. The company currently owns 25 villages in New Zealand and serves over 7,000 residents. Each village offers a combination of retirement living and aged care.

Thursday, 15 November 2012

Ryman posts record half year profit  - up 16%

 

Ryman Healthcare today announced an underlying profit of $48 million for the first half - a new record for the company and up 16% on last year.   Unrealised valuation gains lifted the reported profit after tax to $69 million.

“It’s a terrific result,” said Ryman chairman Dr David Kerr.  “We’ve invested heavily in new aged care and retirement communities over the past 18 months, and we are seeing some reward for that commitment.”

Ryman shareholders will receive an 18% lift in their interim dividend.  The dividend of 4.6 cents per share will be paid on December 7, with the record date for entitlements being November 30.

The most notable project completed in the half was the Diana Isaac Retirement Village in Christchurch, which was designed and built post quake.

Sales of occupation rights lifted 15% to 447 units, and the company opened 226 new resthome, hospital and dementia rooms in the six months under review.  

Operating cashflows were also at record levels with $109 million generated for the half, and the balance sheet received a boost - shareholders equity lifted 7% to $691 million.

“We are trading well and we’re on track to achieve our target of 15% underlying profit growth for the full year.”

In May the company marked a milestone of ten consecutive years of record profit results.   The company also announced that it had lifted its build rate to 700 retirement units and aged care beds per annum, in response to the strong demand for its villages.

Ryman has new villages planned for Waikanae, Howick and Melbourne, and recently announced plans to develop a new village in Petone.

“We are delighted to have received planning approval for our first Melbourne village,” said Dr Kerr, “and you can expect to see building works under way early in the New Year.”

The company remains committed to investing in aged care and retirement communities in New Zealand.

The NZ Government has recognised the need for an additional 12,000 – 20,000 aged care beds to meet the projected growth in demand over the next 15 years.

Statistics NZ estimates the number of New Zealanders aged 75 plus will more than double from 250,000 to 516,000 over the next twenty years.  In Australia the outlook is similar, with the number aged 75 plus set to double to 2.8 million.

Established in 1984 Ryman currently owns 25 villages nationwide, which each offer a combination of retirement living and aged care, and serves over 6,500 residents.

Ends

Tuesday, 31 July 2012

New Ryman Village for Petone

Ryman Healthcare announced to shareholders at today’s Annual Meeting that its 28^th village will be in Petone.

The 3.3 hectare site in Petone, which was once the Petone High School, will be developed into a Ryman retirement village offering the full continuum of care.

“Its a magnificent site for a village, on the flat overlooking the Hutt River and surrounded by reserves on three sides, including Sladden Park,” reported Ryman chairman Dr David Kerr.  “The residents will enjoy wonderful vistas in every direction – to the Western and Eastern hills of the Hutt, to the Tararuas in the north and across Wellington harbour to the city.”

Lower Hutt is currently underserviced by retirement villages and aged care facilities, relative to other cities around New Zealand, and has a growing retired population.

The company recently reported an underlying profit of $84 million for the last financial year, and marked a milestone of ten years in succession of record profit results.

“We have reviewed the first quarters trading, and I’m pleased to advise that we are trading well, and ahead of last year” said Dr Kerr. 

The company announced this year that it had lifted its build rate to 700 retirement units and aged care beds per annum, in response to the strong demand that it is experiencing for its villages.

“Adding the Petone village has lifted our landbank to over 2500 units and beds, however we are still on the hunt for sites in New Zealand.”

Shareholders also heard that the company expects to start building its Melbourne village in the next few months.

The NZ Government has recognised the need for an additional 12,000 – 20,000 aged care beds to meet the projected growth in demand over the next 15 years.

Statistics NZ estimates the number of New Zealanders aged 75 plus will more than double from 250,000 to 516,000 over the next twenty years.  In Australia the outlook is similar, with the number aged 75 plus set to double to 2.8 million.

Established in 1984 Ryman currently owns 24 villages nationwide, which each offer a combination of retirement living and aged care, and serves over 6000 residents.