Media release - July 29,2010
Leading aged care and retirement village operator Ryman Healthcare is
actively seeking a site for its first village in Australia, the company''s
annual meeting of shareholders heard in Orewa today.
"We have been carefully studying the Australian market for several years,"
said chairman Dr David Kerr, "and we see it as the next logical step in the
growth of the company. The Ryman model will be relatively unique in the
"We are in a strong financial position and the management team is ready to
take this next step."
"Shareholders can be reassured that we will be taking one step at a time,
and that we will be very focussed on getting the first village successfully
The company''s growth plans in New Zealand remain intact, with plans to
open at least 450 new units/rooms per annum to add to the existing portfolio
of 4,400 units/rooms.
"We are currently building on eight sites around New Zealand, and have
announced two new site acquisitions this year in Christchurch and Tauranga,"
said Dr Kerr. "We have a healthy landbank of over 2,000 units/rooms or over
four years stock and remain on the lookout for exceptional sites for villages
in New Zealand."
Ryman recently reported a record realised profit of $61 million, and
lifted the annual dividend 16% to 6.1 cents per share.
"We have reviewed the first quarter''s performance and I am pleased to
advise that we are trading well," Dr Kerr told shareholders. "We are ahead
of last year and we are on track to achieve our medium term target of 15%
growth in realised profits for the full year."
Statistics NZ estimates the number of New Zealanders aged 75 plus will
more than double from 250,000 to 516,000 over the next twenty years. Ryman
is well positioned to cater for the accommodation and care needs of this
rapidly growing group of people.
Ryman currently operates 21 villages nationwide, offering a combination of
retirement living and resthome care. The villages are all designed, built
and operated by Ryman.
Ryman recently opened villages in Whangarei and Orewa, and plans to open
new villages in Gisborne, Dunedin, Christchurch and Tauranga.
The company is a six times winner of Best Retirement Village in New
Zealand, serves over 5,000 elderly New Zealanders and employs over 2,500
Media advisory: For further information, photos, interviews or comment
please contact Ryman Chairman Dr David Kerr on 021 362 403, or Ryman Managing
Director Simon Challies on 0274 968 762
End CA:00197768 For:RYM Type:GENERAL Time:2010-07-29:13:30:19