With 17 villages and care facilities across Australia, Aevum announced this week that it had returned to a profit of $2.8 million in the second half of the year. This means over 12 months they delivered a net loss of $12.2 million, after revaluations of properties. They had total revenue from their village and care operations of $25.9 million and total operating expenses of $33.5 million - an operating loss of $7.6 million over the 12 months.
Community Living
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...
