Ann: HALFYR: RYM: Ryman reports half year profit of $70.3m

• Release Date: 20/11/15 08:36
• Summary: HALFYR: RYM: Ryman reports half year profit of $70.3m
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					RYM
20/11/2015 08:36
HALFYR
PRICE SENSITIVE
REL: 0836 HRS Ryman Healthcare Limited

HALFYR: RYM: Ryman reports half year profit of $70.3m

Ryman reports half year profit of $70.3m
On track for 15% profit growth for the full year

Ryman Healthcare's underlying profit rose 6% to $70.3 million in the first
half, and valuation gains lifted the reported profit after tax by 23% to
$132.6 million.

Operating cashflows reached a record $157 million for the half year ended
September 30.

With residents moving into four new villages over the next six months, the
company confirmed it is on track to achieve 15% underlying profit growth for
the full year.

Ryman shareholders will receive an interim dividend of 7.3 cents per share
which will be paid on December 11, with the record date for entitlements
being December 4.

"We've got more building activity going on than ever before which gives us
great confidence about the second half,'' Chairman Dr David Kerr said.

Just over 160 units were completed in the first half and, with construction
well advanced on the four new villages, the company confirmed it was on track
to complete 950 units and beds for the year.

"Our new villages are selling off the plans faster than ever before because
we are building in areas where there is a real need," Dr Kerr said.

As well as the four villages about to open, the company has another four
large scale projects awaiting consent.

"The next four villages in the pipeline are all in high value locations in
Melbourne and Auckland. Two of the villages - Brandon Park in Melbourne and
Tropicana in Auckland will, on completion, be home to more than 600 residents
at each.''

"The other two villages at Greenlane and Devonport are on iconic Auckland
sites with great views of One Tree Hill and the city respectively.''

Dr Kerr said a contract has been signed to buy a third site in Melbourne and
confirmation is imminent.

The company is on target to open five villages in Melbourne by 2020 and to
lift total resident numbers by 70% to 15,500 in the same year.

Ryman continued to innovate, with new uniforms developed for staff, a new
electronic medication system and myRyman, a new nursing app, being trialled
in the first half, Dr Kerr said.

Caregiver pay rates were given another significant boost in the first half
and Ryman continued to increase its investment in training.

"We have been investing as heavily in our people as we have been in growing
our property portfolio. We want to make sure our residents are delighted with
their decision to live in a Ryman village and with the care they receive.''

Four new villages under construction:
Petone: Construction continuing, opening late 2015
Birkenhead, Auckland: Construction continuing, opening 2016
Pukekohe: Construction continuing, opening late 2015
Rangiora, Canterbury: Construction continuing, opening 2016

Another four new villages awaiting consent:
Greenlane, Auckland: Construction expected to start early 2016
Devonport, Auckland: Consenting stage
Brandon Park, Melbourne: Consenting stage
Tropicana, Auckland: Consenting stage

Other new villages planned:
Newtown, Wellington: Design phase
River Rd, Hamilton: Design phase
Site A, New Zealand: Design phase
Site B, Melbourne: Due diligence phase

About Ryman: Ryman Healthcare was founded in Christchurch in 1984 and owns
and operates 30 retirement villages in New Zealand and Australia. Ryman
villages are home to 9,000 residents, and the company employs over 4,000
staff.

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 HALF YEAR ENDED 30 SEPTEMBER 2015

Unaudited.

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

UNDERLYING PROFIT:
70,253,000; 6%; 66,302,000

OPERATING REVENUE:

Trading Revenue:
126,180,000; 16%; 108,411,000
Other Revenue
605,000; (20)%; 752,000
Total Operating Revenue
126,785,000; 16%; 109,163,000

Fair value movement of investment properties:
119,328,000; 28%; 93,551,000

TOTAL INCOME:
246,113,000; 21%; 202,714,000

NET PROFIT BEFORE TAXATION:
135,416,000; 28%; 106,098,000

Less tax on operating profit:
2,833,000; (256)%; (1,811,000)

NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF LISTED ISSUER:
132,583,000; 23%; 107,909,000

Earnings per share (Basic & Diluted):
26.5 cps; 23%; 21.6 cps

Interim Dividend
7.3 cps; 16%; 6.3 cps
Record Date: 4 December 2015
Date Payable: 11 December 2015
Imputation Tax Credit: No Imputation Credit
End CA:00273767 For:RYM    Type:HALFYR     Time:2015-11-20 08:36:02