Thursday, 17 November 2011

Ryman Half Year Profit up 15%

Christchurch based aged care and retirement village operator Ryman Healthcare today announced a 15% increase in underlying profit, posting a record for a half year of $41 million. Unrealised valuation gains lifted the reported profit after tax to $60 million.

Ryman shareholders will receive a 15% increase in their dividend. The interim dividend of 3.9 cents per share will be paid on December 9, and the record date for entitlements is December 2.

"We lifted our build rate last year, and that decision is now starting to pay dividends," said chairman Dr David Kerr. "This is an outstanding result, especially when you consider the additional challenges faced this year by the Christchurch team."

Shareholders equity lifted 7% to $605 million and the company generated strong operating cash flows of $92 million, up 26% on the same period last year.

"We have generated exceptionally strong operating cash flows," said Dr Kerr, "which has allowed us to invest heavily in new hospital and dementia care facilities this year."

"In the past six months alone we’ve opened 170 beds - in New Plymouth, Hamilton, and Auckland, and in the second half we will be opening new aged care facilities in Gisborne, Christchurch and Tauranga to meet the growing demand for these services."

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.

The company built and opened 199 retirement village units and 170 aged care beds in the six months ended 30 September.

"We are trading well and are experiencing strong levels of pre-sales at our new villages," reported Dr Kerr, "so we expect to achieve our target of 15% underlying profit growth for the full year."

The company recently announced the acquisition of its first site in Melbourne, and has this year purchased land for new villages in Waikanae and Howick.

The company has lifted its build rate to 550 units and beds per annum, holds a landbank of over 2,500 units and beds, and in the year ahead will open new villages in Gisborne, Tauranga and Christchurch.

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.

Ryman currently owns 24 villages nationwide, which each offer a combination of retirement living and resthome care, and serves over 5700 residents.

Tuesday, 01 November 2011

Ryman Acquires First Australian Site

Christchurch based aged care and retirement village operator Ryman Healthcare today announced the acquisition of a site for its first village in Australia.

“We have been investigating the Melbourne market for almost two years,” advised chairman Dr David Kerr, “and we identified an emerging need for both aged care and retirement living in the eastern suburbs of Melbourne.”

“We are therefore delighted to report that we have purchased a site in Wheelers Hill, adjacent to the eastern suburbs of Glen Waverley and Mt Waverley.”

Ryman plans to develop a medium density village, along similar lines to the villages it has successfully developed in Auckland and Wellington, and plans to offer the full continuum of care – including independent apartments, serviced apartments, a village centre and an aged care centre.

“Our focus will be on successfully establishing this first village in Melbourne, and learning how to adapt our model to the Australian market, while maintaining our expansion in New Zealand,” said Dr Kerr.

The company recently reported a record underlying profit of $72 million for the last financial year, and lifted the annual dividend 18% to 7.2 cents per share. 

The Melbourne land purchase, which follows the purchase of sites in Howick and Waikanae earlier this year, has lifted the company’s landbank to over 2500 units and beds. 

This year the company announced a lift in its build rate to 550 units and beds per annum, and in the year ahead will open new villages in Gisborne, Tauranga and Christchurch.

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.  Ryman is well positioned to cater for the accommodation and care needs of this rapidly growing group.

Ryman currently owns 24 villages nationwide, which each offer a combination of retirement living and aged care, and serves over 5700 residents.

Wednesday, 03 August 2011

Ryman announces new village for Howick

Ryman Healthcare announced to shareholders at today’s annual meeting that its 26th village will be in Howick, Auckland.

"We are delighted to announce the purchase of a 3.5 hectare site in Howick," chairman Dr David Kerr advised shareholders. "The Greater Howick area is home to one of New Zealand’s fastest growing older populations, and we are looking forward to providing the local people with a first class aged care and retirement living choice in their neighbourhood."

Ryman plans to develop a village offering the full continuum of care – including independent and serviced apartments, a village centre and an aged care centre offering resthome, hospital and dementia care.

The company recently reported a record underlying profit of $72 million for the last financial year, and lifted the annual dividend 18% to 7.2 cents per share.

"We have reviewed the first quarter’s performance and I am pleased to advise that we are trading well, and are ahead of last year," Dr Kerr told shareholders.

The Howick land purchase, which follows the purchase of a site in Waikanae earlier this year, has lifted the company’s landbank to over 2300 units and beds.

During the past year the company has lifted its build rate to 550 units and beds per annum and has commenced work on new villages in Gisborne, Tauranga and Christchurch. The company is currently building across ten sites and is well placed to continue building at the new rate for the foreseeable future.

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. Ryman is well positioned to cater for the accommodation and care needs of this rapidly growing group.

Ryman currently owns 24 villages nationwide, which each offer a combination of retirement living and resthome care. The company owns two further sites in New Zealand and is actively searching for its first site in Australia.

The company is a six times winner of Best Retirement Village in New Zealand, serves over 5500 elderly New Zealanders, and employs over 2600 staff.

Tuesday, 28 June 2011

New Ryman village named after Lady Diana Isaac

Ryman Healthcare’s new Christchurch retirement village will be named after Lady Diana Isaac, one of Canterbury’s most respected and admired citizens.

Lady Isaac is renowned in Canterbury as a successful businesswomen, for her generosity and support for the arts, and her widely acclaimed work in conservation and the preservation of endangered species.

"Lady Isaac is a truly remarkable woman", said Ryman managing director Simon Challies. "We’re honoured and privileged to be able to name the village after her."

‘Big things from little acorns grow’ is one of Lady Isaac’s favourite quotes, and is one that aptly describes her approach to both business and conservation.

"We see the new village as a way in which we can contribute to the rebuilding of our hometown, by establishing a flourishing and caring community for the older people of North East Christchurch."

The Diana Isaac Retirement Village is designed in Ryman’s unique award-winning style, and will set a new benchmark for the quality of retirement living and resthome care in North East Christchurch.

Located off East Ellington Drive, the village is close to the established communities of St Albans, Shirley and Mairehau.

In the wake of February’s devastating earthquake, more than three hundred elderly resthome residents were displaced out of town, away from friends and family.

"The building of our new 120 room resthome, hospital and dementia care facility will allow many of those people to return home. We would like to be able to start work immediately", said Mr Challies.

"We are committed to Christchurch, and we are delighted to be making this $100 million investment in the City. We hope our display of confidence will inspire others to invest in the rebuild."

Scheduled for an opening in 2012, the village will feature resort-style retirement living at its very best including a village centre with a grand internal atriums, indoor swimming pool and spa, gym, beauty salon, bowling green, and even a movie theatre – to name just a few of the wonderful facilities to be enjoyed by residents.

On completion, the village will be home to up to 450 residents and employ more than 150 staff. The village will be Ryman’s 24th retirement village.

Ryman is a six time winner of the Australasian Aged Care Housing Awards for "Best Retirement Village in New Zealand", and provides home and care services to more than 5,400 elderly New Zealanders, employing over 2600 staff.