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Friday 31st July 2009 |
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Ryman Healthcare shares climbed to a 10-month high after the rest-home operator said it is trading well ahead of last year and is set to post an increase in full-year profit on demand for its facilities.
The shares rose 4.7% to $1.77, the highest since September, and have gained 20% in the past three months. Reported profit, which excludes unrealized valuation gains, will exceed last year’s $53 million while dividends will top 5.25 cents a share.
“We are experiencing strong demand for our new villages,” chairman David Kerr told shareholders at their annual meeting in Christchurch. “There is no let up in our building programme – we’re as busy as we’ve ever been.”
Kerr said Ryman is “trading well,” is ahead of last year and is comfortable with the market expectations for profits.
Ryman currently owns 21 villages nationwide, and plans to open two new villages each year. The villages are all designed, built and operated by Ryman.
Businesswire.co.nz
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