Ryman Healthcare Ltd has secured 4 new retirement village sites in New Zealand, boosting its landbank from 3 to 4 years’ stock.
Ryman chairman David Kerr told the annual meeting yesterday the sites’ locations would be announced over the next 3-4 months as the contracts are confirmed.
For Auckland, the company said in May it had bought a site in Birkenhead and it’s about to start construction on a new village in Howick. In Wellington, a new village for Petone is in the planning phase. Construction is well advanced on the first Melbourne village, which is on schedule to open in April 2014.
Ryman reported an underlying profit of $100 million for the last financial year, up 19% on the previous year. For the new financial year, Dr Kerr said trading was in line with expectations, which were for further growth.
Ryman has over 7000 residents in 26 villages it owns in New Zealand.
Attribution: Company release.