21 May 2009

Ryman Healthcare profit up

12:13 pm on 21 May 2009

Increasing demand for space in retirement villages and rest homes has helped boost Ryman Healthcare's profit by 5%.

Excluding unrealised valuation gains the listed healthcare provider made $53 million in the 12 months to the end of March, compared to $50.5 million last year.

Revenue rose more than 22% as villages opened two years ago approached full occupancy.

Chief executive Simon Challies says demand for facilities remains robust and Ryman has no plans to slow the pace of expansion.