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- Release Date: 30/07/13 17:04
- Summary: ADDRESS: RYM: Ryman boosts New Zealand landbank
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RYM
30/07/2013 15:04
ADDRESS
REL: 1504 HRS Ryman Healthcare Limited
ADDRESS: RYM: Ryman boosts New Zealand landbank
Ryman boosts New Zealand landbank
Ryman Healthcare has secured four new sites in New Zealand, boosting its
landbank from three to four years stock, shareholders heard at today's Annual
Meeting.
"Our target for the year was to secure four new sites" said Ryman chairman,
Dr David Kerr. "So I'm delighted to be able to report at this early stage
that we have achieved this goal."
In May, the company announced the purchase of a site in Birkenhead. The
locations of the four new sites will be announced over the next three to four
months as the contracts are confirmed.
Construction is about to commence on the company's new village in Howick.
New villages for Petone and Birkenhead are in the planning phase.
Shareholders also learnt that construction is well advanced on the first
Melbourne village, and is on schedule for opening in April 2014.
The company recently reported an underlying profit of $100 million for the
last financial year, up 19% on the prior year.
"We have reviewed the first quarter's trading, and I'm pleased to advise that
we are ahead of last year, and trading in line with our expectations" said Dr
Kerr.
Thirty years of exceptional demographic growth lie ahead of the company.
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 26 villages and serves over 7,000 residents in New
Zealand. Each village offers a combination of retirement living and aged
care.
Ends
Media advisory: For further information, photos, interviews or comment please
contact Ryman chairman Dr David Kerr on 021 362 403, or Ryman managing
director Simon Challies on 03 366 4069 or 0274 968 762
End CA:00239096 For:RYM Type:ADDRESS Time:2013-07-30 15:04:31
