Ryman urged to use profit to increase wages
Updated at 6:20 am on 19 May 2012
A union representing aged care workers says a multi-million dollar profit made by Ryman Healthcare is not something to boast about considering how many of the sector's workers are poorly paid.
The listed rest home and retirement village operator made $120.8 million in the year to the end of March, a profit rise of almost 21% compared to the previous year.
The announcement came a week after draft findings from a Human Rights Commission inquiry said low wages and pay inequalities in the aged care sector are an indignity that must be addressed.
The Service and Food Workers Union says it doubts any of Ryman's massive profit will be pumped into improving wages.
Union spokesperson Alastair Duncan says Ryman workers will be asking how the company can make these profits and find the money for extraordinarily successful capital development but still be paying workers within a dollar of the minimum wage.
The union accuses the rest home operator and others of making huge profits funded by taxpayer dollars.
But the Aged Care Association says that's out of line because 75% of Ryman's profit was made from its retirement village operation.
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