19 May 2011

Record profit posted by Ryman

11:43 am on 19 May 2011

Ryman Healthcare has posted another record full year profit as it pushes ahead with its expansion plans.

The resthome and retirement village operator made $100.2 million in the year to March - up almost 28% on last year's profit of $78.4 million.

Once gains from property revalutations are stripped out, Ryman made an underlying profit of $72 million - up more than 17% on 2010 and a record for the company.

Total revenue rose 18% to $130 million.

Managing director Simon Challies says the result beat the company's own expectations.

Ryman declared an improved final dividend of 3.8 cents per share.

Shares in Ryman rose by 3 cents to $2.65 on Thursday.