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Announcement

FLLYR: RYM: Ryman reports record full year profit

20 May 2016 08:30NZX
MEDIA RELEASE MAY 20 2016

Ryman reports record full year profit

Stage set for a better, bigger and brighter Ryman

Ryman Healthcare''s underlying full year profit has grown 16% to a record $158
million, as the company enters a new era of growth.

Reported profit after tax is up 26% to $305 million (NZ IFRS), with the
addition of new stock and a strong housing market leading to valuation gains.

Operating cashflows grew 34% to reach $312 million in the year to March 31,
driving a record level of investment in new villages and innovations.

Ryman shareholders will receive a final dividend of 8.5 cents per share which
will be paid on June 24, with the record date for entitlements being June 10.
Dividends for the full year have grown 16% in line with the lift in
underlying profit, as shareholders benefit from a growing dividend stream.

"It is a pleasing result, and one which has allowed us to continue investing
in critical infrastructure for the benefit of our residents," Chairman Dr
David Kerr said.  "Good profits and cash flows mean we have been able to
invest $369 million back into the business.''''

The result was lifted by record levels of demand and the buoyant housing
market, Dr Kerr said.

"It has been a year of world-leading innovation and we''re setting the scene
for a better, bigger and brighter Ryman.''''

Innovations introduced during the year included the first phase of Ryman''s
new home-grown tablet-based nursing app which will eliminate paperwork and
allow nursing staff to spend more time with residents. ''myRyman'' has already
won a prestigious Microsoft award and is seen as a game-changer for clinical
staff and residents.

Survey ratings from staff, residents and relatives all lifted during the
year.  New uniforms by New Zealand fashion designer Annah Stretton have been
trialled successfully and are set for rollout company-wide.

Dr Kerr said Ryman was working on securing its fourth and fifth sites in
Melbourne, putting the company on track to have five villages open in
Victoria by 2020.

Ryman''s first village in Melbourne was completed and sold out during the
year.  Construction of Ryman''s second village at Brandon Park is expected to
start within six months, with the sales team already experiencing significant
resident demand.

"Returns from our first investment in Melbourne have been better than we
expected.  Looking out past 2020, our long term plan is to match our New
Zealand build rate in Australia.  We are excited about the opportunity that
both markets offer.''''

Ryman is the busiest it has been with four large villages currently in the
opening phase, and eight more in the pipeline, Dr Kerr said.

"We are experiencing strong demand.  I think this reflects the trust and
recognition that Ryman has been able to build up over the past 32 years.  We
ended the year with 98% occupancy in our care centres which is well above the
industry average.''''

Dr Kerr said total assets grew 20% to almost $4 billion, and Ryman''s balance
sheet was stronger than ever before.

"We''ve achieved most of our targets for the year and we have invested
heavily in innovation to make sure we are getting better as well as getting
bigger.  We will continue to invest heavily in tomorrow''s Ryman, creating a
brighter future for residents, staff and shareholders.''''

Five new villages under construction:
Petone: First residents moved in, construction continuing.
Pukekohe: First residents moved in, construction continuing.
Rangiora, Canterbury: First residents moved in, construction continuing.
Birkenhead, Auckland: Construction continuing, first residents due mid-2016.
Greenlane, Auckland: Demolition complete, groundworks under way.

Three new villages awaiting consent:
Devonport, Auckland: Consenting stage.
Brandon Park, Melbourne: Consenting stage.
Tropicana, Auckland: Consenting stage.

Four new villages planned:
Burwood East, Melbourne: Design phase.
Newtown, Wellington: Design phase.
River Rd, Hamilton: Design phase.
Site A, New Zealand: Design phase.

About Ryman: Ryman Healthcare was founded in Christchurch in 1984 and owns
and operates 30 retirement villages in New Zealand and Australia. Ryman
villages are home to more than 10,000 residents, and the company employs more
than 4,000 staff.

For further information, photos, interviews or comment; please contact
Corporate Affairs Manager David King on 03 366 4069 or 021 499 602.

CONSOLIDATED OPERATING STATEMENT FOR THE YEAR ENDED 31 MARCH 2016

Audited.

Current Year NZ$; Up/(Down) %; Previous Corresponding Year NZ$

UNDERLYING PROFIT:
157,713,000; + 15.7%; 136,316,000

OPERATING REVENUE:

Trading Revenue:
260,774,000; + 15.2%; 226,412,000
Other Revenue
296,000; (57.7%); 700,000
Total Operating Revenue
261,070,000; + 15.0%; 227,112,000

Fair value movement of investment properties:
274,627,000; + 26.2%; 217,624,000

TOTAL INCOME:
535,697,000; + 20.5%; 444,736,000

NET PROFIT BEFORE TAXATION:
309,331,000; + 27.8%; 242,031,000

Less tax on operating profit:
3,908,000; 3,358%; 113,000

NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF LISTED ISSUER:
305,423,000; + 26.3%; 241,918,000

Earnings per share:
61.1 cps; + 26.3%; 48.4 cps (basic and diluted)

Final Dividend
8.5 cps; + 16.4%; 7.3  cps
Record Date: 10 June 2016
Date Payable: 24 June 2016
Imputation Tax Credit: No Imputation Credit
End CA:00282672 For:RYM    Type:FLLYR      Time:2016-05-20 08:30:21
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