Ann: HALFYR: RYM: Ryman posts record result - up

• Release Date: 21/11/13 10:30
• Summary: HALFYR: RYM: Ryman posts record result - up 22% for first half
• Price Sensitive: No
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					RYM
21/11/2013 08:30
HALFYR

REL: 0830 HRS Ryman Healthcare Limited

HALFYR: RYM: Ryman posts record result - up 22% for first half

Media release - November 21 2013

Ryman posts record result - up 22% for first half
Commences search for second site in Melbourne

Ryman Healthcare today announced an underlying profit of $58.5 million for
the first half - a new record for the company and up 22% on last year.
Unrealised valuation gains lifted the reported profit after tax to $78.4
million.

Ryman shareholders will receive a 22% lift in their interim dividend.  The
dividend of 5.6 cents per share will be paid on 13 December, with the record
date for entitlements being 6 December.

"We are delighted to be reporting on a successful first half," said Chairman
Dr David Kerr. "We secured resource consent and started building our new
Howick village, while our current land acquisitions will lift our New Zealand
landbank from three to four years stock."

For the full year, the company is on track to achieve its medium term target
of growing underlying profit by 15% per annum.

Construction of the first Melbourne village is progressing well.  The company
has been pleasantly surprised by the level of demand in the local community
for a Ryman-style village.

"I'm pleased to advise that we have already signed up 48 apartments, well
ahead of our own presales targets and six months before opening," advised Dr
Kerr.
"We are now in a position to commit to the second stage of the village, and
have resolved to commence the search for a second site in Melbourne."

The company has rapidly expanded its hospital and dementia level care
services in recent years to meet the growing need for these services.  That
investment in new services is being matched by a significant investment in
training and systems, plus additional staffing to meet the increasing needs
of the residents.

"We are committed to providing the full continuum of care, and we are always
striving to provide that care to a high standard," said Dr Kerr.  "As we know
how important this is to all of our residents and their families."

Ryman has increased caregiver pay rates by 5% for the second year in a row -
a move which makes them one of the top payers in the sector.

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.

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

Ends

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

CONSOLIDATED OPERATING STATEMENT FOR THE HALF YEAR ENDED 30 SEPTEMBER 2013

Unaudited.

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

UNDERLYING PROFIT:
58,517,000; 22%; 48,122,000

OPERATING REVENUE:

Trading Revenue:
98,943,000; 13%; 87,514,000
Other Revenue
630,000; 54%; 410,000
Total Operating Revenue
99,573,000; 13%; 87,924,000

Fair value movement of investment properties:
66,834,000; 13%; 59,134,000

TOTAL INCOME:
166,407,000; 13%; 147,058,000

NET PROFIT BEFORE TAXATION:
83,195,000; 10%; 75,418,000

Less tax on operating profit:
4,794,000; -28%; 6,643,000

NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF LISTED ISSUER:
78,401,000; 14%; 68,775,000

Earnings per share (Basic & Diluted):
15.7 cps; 14%; 13.8 cps

Interim Dividend
5.6 cps; 22%; 4.6 cps
Record Date: 6 December 2013
Date Payable: 13 December 2013
Imputation Tax Credit: No Imputation Credit
End CA:00244078 For:RYM    Type:HALFYR     Time:2013-11-21 08:30:03