Ryman Healthcare Gains Consent For Orewa Village

Published: Tue 2 Dec 2008 03:18 PM
Ryman Healthcare Gains Consent For Orewa Village
Dec. 2 - Ryman Healthcare ssaid it gained resource consent for its NZ$140 million Evelyn Page retirement village in Orewa.
The company plans to open the village next year, with sufficient space for 500 residents and 120 staff, the company said.
The Orewa site marks the 21st retirement village for Ryman. The company’s shares fell 2.7% to NZ$1.42 and are down 29% this year.
Last month the company posted a 10% gain in first-half profit as it opened new villages amid rising demand.
Profit rose to NZ$26 million in the six months ended Sept. 30, from NZ$23.6 million a year earlier. Chairman David Kerr said the company’s cash flows were “very strong” and it had sufficient to ensure rising dividends and funding for expansion.

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