Ryman Healthcare has posted another record first-half result and is forecasting its second-half will be even stronger.
The retirement village operator's net profit jumped 37.6 percent to $108 million for the six months ended September. That reflected rising values of its properties and a 26.4 percent rise in sales of new and existing units to nearly $221 million.
Ryman Healthcare said it built a record 450 beds and units during the six months and its assets had doubled in the past four years to more than $3 billion.
Chief executive Simon Challies said it was a very successful six months for his company, particularly as it escalated the rate at which it was building new units and with its Melbourne developments ahead of expectations.
"We had a record first half and a record build; a record build rate from seven years over the last three years and we're on track for 900 for the year.
"We're on track for 15 percent growth for our underlying profits for the full year; we've got a big investment in Auckland underway and we've got good strong demand across all of the sites in Auckland," he said.
Ryman Healthcare said it planned to spend more than $800 million in Auckland on developments during the next five years and its expansion in Australia is ahead of projections.