Ann: FLLYR: RYM: Ryman marks a decade of record r

• Release Date: 17/05/12 10:30
• Summary: FLLYR: RYM: Ryman marks a decade of record results
• Price Sensitive: No
• Download Document  3.9KB

					

RYM
17/05/2012 08:30
FLLYR

REL: 0830 HRS Ryman Healthcare Limited

FLLYR: RYM: Ryman marks a decade of record results

Ryman marks a decade of record results
Annual profit up 17%

Christchurch based aged care and retirement village operator Ryman Healthcare
today announced a 17% increase in underlying profit, posting a new record of
$84 million for the year.  Unrealised valuation gains lifted the reported
profit after tax to $121 million.

The result is a significant milestone, as it marks ten years in succession of
record profit results for the company.

Ryman shareholders will receive a 17% increase in their annual dividend to
8.4 cents per share.  The final dividend of 4.5 cents per share will have a
record date for entitlements of June 8, and will be paid on June 22.

"It's an exceptional result" said chairman Dr David Kerr.  "The company has
faced some major challenges in Christchurch over the past 18 months, and has
responded with a performance which exceeds even our own targets."

The company built 710 retirement units and aged care beds during the year, up
24% on the previous year, and well ahead of its target build rate of 550
units and beds per annum.

"The lift in build rate reflected the significant investment we made in
hospital and dementia facilities this year, and our decision to fast-track
new Christchurch facilities post-earthquake."

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.

New villages were opened in Gisborne and Tauranga during the year, and the
new village in Christchurch welcomed its first townhouse residents in March
this year.

"We are experiencing strong demand for our villages," said Dr Kerr , "which
has spurred us on to keep building at the rate of 700 units and beds per
annum in New Zealand."

Operating cashflows were up 27% to $169 million for the year, allowing the
company to self-fund the bulk of its building activity.  Bank facilities
increased to meet the additional working capital required to build at a
higher run-rate in New Zealand, and to fund the company's expansion into
Australia.

The company recently received planning approval for its Waikanae village, and
is currently working through the planning process for its Melbourne and
Howick villages.  Several new sites in New Zealand are currently under active
consideration.

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.

Established in 1984 Ryman currently owns 24 villages nationwide, which each
offer a combination of retirement living and aged care, and serves over 6000
residents.

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 3664069 or 0274 968 762

CONSOLIDATED OPERATING STATEMENT FOR THE YEAR ENDED 31 MARCH 2012

Audited.

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

UNDERLYING PROFIT:
84,058,000; + 16.5%; 72,143,000

OPERATING REVENUE:

Trading Revenue:
154,515,000; + 20%; 129,149,000
Other Revenue
662,000; + 32%; 501,000
Total Operating Revenue
155,177,000; + 20%; 129,650,000

Fair value movement of investment properties:
101,857,000; + 26%; 80,796,000

TOTAL INCOME:
257,034,000; + 22%; 210,446,000

NET PROFIT BEFORE TAXATION:
130,153,000; + 27 %; 102,772,000

Less tax on operating profit:
9,382,000; + 262%; 2,595,000

NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF LISTED ISSUER:
120,771,000; + 21%; 100,177,000

Earnings per share (basic and diluted):
24.3 cps; + 21%; 20.1 cps

Final Dividend
4.50 cps; + 12%; 3.80 cps
Record Date: 8 June 2012
Date Payable: 22 June 2012
Imputation Tax Credit: No Imputation Credit
End CA:00222928 For:RYM    Type:FLLYR      Time:2012-05-17 08:30:13