Listed resthome and retirement village Ryman Healthcare says increasing contributions from management and care fees will help it to fund its growth plans in coming years.
Improved property valuations and increased sales of retirement units boosted Ryman's full year profit by 19%, to $78.4 million dollars.
Total revenue rose more than 30% to $149 million - with care and management fees now making up more than half of the cash the company collected.
Managing director Simon Challies says he expects those fees to make an even greater contribution to cash-flow in coming years.
He says it is too early to issue any earnings guidance for the 2011 financial year but says the company is targeting earnings growth in the medium term of 15%.
Shares in Ryman were unchanged at $2.14 on Wednesday.