Ann: FLLYR: RYM: Ryman Healthcare's underlyin

• Release Date: 15/05/14 10:30
• Summary: FLLYR: RYM: Ryman Healthcare's underlying profits rise 18 per cent
• Price Sensitive: No
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					RYM
15/05/2014 08:30
FLLYR

REL: 0830 HRS Ryman Healthcare Limited

FLLYR: RYM: Ryman Healthcare's underlying profits rise 18 per cent

Media release - May 15 2014

Ryman Healthcare's underlying profits rise 18 per cent

Strong retirement village earnings fund extra investment in care services

Ryman Healthcare today announced an underlying profit of $118 million thanks
to a buoyant property market and strong demand for retirement village living.
 Valuation gains lifted the reported profit after tax to $195 million.

"It's another standout result for us thanks to some strong earnings growth
from our new villages,'' Chairman Dr David Kerr said.

"It is a great way to mark our 30th birthday and to thank the investors
who've backed us for all these years. We're pleased to be able to increase
our final dividend to investors by 18 per cent to match the rise in
underlying profits.''

Ryman has lifted its underlying profit for 12 years in a row and has again
exceeded its medium term target of growing underlying profits by 15 per cent
a year.

"There have been a number of highlights in the past year but welcoming the
first residents into the Weary Dunlop Retirement Village in Melbourne this
month stands out as a significant milestone for this company,'' Dr Kerr said.

"We're also pleased to have bought another site in the eastern suburbs of
Melbourne. We're still learning about Australia but our experience so far has
exceeded our expectations and given us the confidence to expand.''

Dr Kerr said the growth in retirement village earnings funded extra
investment into care for residents. Ryman has increased wage rates for care
staff, put in additional training resources and increased staff numbers.

"We put the care of our residents at the heart of everything we do - without
them and the support of their families we simply wouldn't be in business.''

"Our residents and their relatives rate us highly but we want to raise the
bar higher - we want them to be genuinely delighted with the village they
live in and the care they receive.''
Ryman shareholders will receive a final dividend of 6.2 cents per share which
will be paid on June 20 2014, taking the total for the year to 11.8 cents per
share. The record date for entitlements is June 6 2014.

Operating cashflows reached record levels at $238 million, up 7 per cent from
the year before.

The company acquired six new sites in New Zealand during the year, which has
extended its landbank out to just under 4000 beds and units.

As a result Ryman raised its build rate target, and aims to be building 850
beds and units a year in New Zealand by 2017.
Ryman's Bruce McLaren Retirement Village is on target to open in Howick later
this year, and work is due to start on a new village in Petone after it
gained consent.

Planning consent has been lodged for a new village at Birkenhead and Ryman
has also unveiled plans to build a new village on a prime site at Devonport
on Auckland's North Shore.

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 paid to shareholders, and is reconciled to reported profit in the
key statistics attached to this release.

About Ryman: Ryman Healthcare was founded in Christchurch in 1984 and owns
and operates 27 retirement villages in New Zealand and Australia. Ryman
villages are home to 7500 residents, and the company employs 3500 staff.

Media advisory: For further information, photos, interviews or comment please
contact Corporate Affairs Manager David King on 03 366 4069 or 021 499 602.

CONSOLIDATED OPERATING STATEMENT FOR THE YEAR ENDED 31 MARCH 2014

Audited.

Current Year NZ$; Up/(Down) %; Previous Corresponding Year NZ$

UNDERLYING PROFIT:
118,204,000; + 17.9%; 100,229,000

OPERATING REVENUE:

Trading Revenue:
202,491,000; + 11.9%; 181,001,000
Other Revenue
732,000; 169.1%; 272,000
Total Operating Revenue
203,223,000; + 12.1%; 181,273,000

Fair value movement of investment properties:
174,019,000; + 46.3%; 118,935,000

TOTAL INCOME:
377,242,000; + 25.7%; 300,208,000

NET PROFIT BEFORE TAXATION:
203,287,000; + 35.3%; 150,279,000

Less tax on operating profit:
8,482,000; (37.4)%; 13,549,000

NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF LISTED ISSUER:
194,805,000; + 42.5%; 136,730,000

Earnings per share:
39.0 cps; + 42.9%; 27.3 cps (basic and diluted)

Final Dividend
6.2 cps; + 14.8%; 5.4 cps
Record Date: 6 June 2014
Date Payable: 20 June 2014
Imputation Tax Credit: No Imputation Credit
End CA:00250465 For:RYM    Type:FLLYR      Time:2014-05-15 08:30:16