18 Nov 2010

Record half-year profit for Ryman healthcare

12:10 pm on 18 November 2010

Ryman Healthcare has posted a record half-year profit and says it's on track to grow full year profits by 15%.

The listed-aged care provider made $52.3 million in the six months to the end of September, an increase of 36% on the same period last year.

Once property revaluations are stripped out, underlying profit was $36 million, which is 25% higher than last year and a record for the company.

Revenue rose almost 20% to $63 million.

Chief executive Simon Challies says it's the ninth consecutive record result for the company.

Ryman will pay an interim dividend of 3.4 cents per share, up more than 25% on the same period last year. Shares in Ryman have risen 2c to $2.18.

Ryman owns 22 villages around New Zealand, which offer both retirement and resthome care. It plans to open more villages in Dunedin, Gisborne, Christchurch and Tauranga.