21 Nov 2008

Demand continues for retirement villages - Ryman

12:29 pm on 21 November 2008

Ryman Healthcare says demand for space in its retirement villages continues to grow.

Excluding unrealised movements in investment valuations, it made $26 million dollars in the six months to the end of September - an increase of 10%.

When valuations are included, it made $35 million, which was 1% up on the same period last year as property values fell slightly.

Ryman's chief executive, Simon Challies, says sales of occupation rights were up 11% during the period.

He says Ryman expects to match or slightly better its first-half profit in the second half of the financial year.