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Ryman announces new village for Howick

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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.

 

 

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