https://www.rnz.co.nz/assets/news/212114/eight_col_wheelchair.jpg?1571625699 Ryman Healthcare’s full-year result has been hit by the Covid-19 pandemic. Photo: 123RF The country’s largest retirement village operator’s half-year profit has risen on the back of higher property valuations but Covid-19 has hit its underlying earnings through higher costs and constrained trading. The company’s profit for the six months ended September was $212.4 million compared with $188m the year before. But leaving aside $124m of valuation gains the underlying result fell 14 percent to $88.4m as it spent more to keep Covid-19 out of its 39 rest homes on both sides of the Tasman, while being forced to slow down the building of new villages and the sale of empty units. “It has been a tough six months due to the ongoing impact of the pandemic, which increased costs substantially and restricted our ability to sell in key markets during the extended lockdowns,” chief executive Gordon MacLeod said. ...
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