NZ’s Ryman Healthcare posts biggest profit ever – announces site for 10th VIC village

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The company’s latest operating profit for the year ending 31 March 2019 was ahead 11.5% on last year at a record $214.4 million AUD.

Ryman invested $522 million AUD in new and existing villages in Australia and NZ during the year, taking net assets to $2.2 billion, up from $1.9 billion a year ago. It will pay shareholders a full year dividend of 22.7 cents a share.

The retirement village operator also announced plans for its tenth Australian village, valued at $200 million, which will be built in Ringwood East – 31 kilometres east of Melbourne CBD (pictured below) – and is likely to be a 120-bed facility.

As we reported here, Ryman is NZ’s largest retirement village operator – where it runs over 30 villages – but has been a fast-growing new entrant into the Australian aged care sector since opening its first Australian retirement village in 2014. The operator says it is still on track to have five villages open in Victoria by 2020.

Of its 10 sites in Victoria, two villages are already up and running, while eight sites (including the new Ringwood East development) are at various stages of the planning and design process.