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Ryman plans first Australian village

Leading aged care and retirement village operator Ryman Healthcare is actively seeking a site for its first village in Australia, the company’s annual meeting of shareholders heard in Orewa today.

“We have been carefully studying the Australian market for several years,” said chairman Dr David Kerr, “and we see it as the next logical step in the growth of the company.  The Ryman model will be relatively unique in the Australian market.”

“We are in a strong financial position and the management team is ready to take this next step.”

“Shareholders can be reassured that we will be taking one step at a time, and that we will be very focussed on getting the first village successfully established.”

The company’s growth plans in New Zealand remain intact, with plans to open at least 450 new units/rooms per annum to add to the existing portfolio of 4,400 units/rooms.

“We are currently building on eight sites around New Zealand, and have announced two new site acquisitions this year in Christchurch and Tauranga,” said Dr Kerr.  “We have a healthy landbank of over 2,000 units/rooms or over four years stock and remain on the lookout for exceptional sites for villages in New Zealand.”

Ryman recently reported a record realised profit of $61 million, and lifted the annual dividend 16% to 6.1 cents per share. 

“We have reviewed the first quarter’s performance and I am pleased to advise that we are trading well,” Dr Kerr told shareholders.  “We are ahead of last year and we are on track to achieve our medium term target of 15% growth in realised profits for the full year.”

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 of people.

Ryman currently operates 21 villages nationwide, offering a combination of retirement living and resthome care.    The villages are all designed, built and operated by Ryman. 

Ryman recently opened villages in Whangarei and Orewa, and plans to open new villages in Gisborne, Dunedin, Christchurch and Tauranga.

The company is a six times winner of Best Retirement Village in New Zealand, serves over 5,000 elderly New Zealanders and employs over 2,500 staff.

 

 

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