Retirement operator rides high on demographics
Shares in retirement village operator Ryman Healthcare have continued their good run as investors see further upside in this long-term growth sector.
Monday, October 4th 2004, 9:24AM
by The Landlord
The company, which operates a mix of aged-care facilities and independent units, is driving aggressive expansion as it looks to increase profits 15% a year.Like its peers, Ryman is putting heavy emphasis on this country's ageing population, with statistics showing the number of people over 65 almost doubling by 2026.
Ryman, which reported a net profit of $15.3 million in the March year, recently acquired a new site in Christchurch and now has a landbank sufficient to provide a further 940 retirement village units and 427 resthome/hospital beds.
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