Ryman Healthcare, New Zealand's largest retirement owner-operator, reported a 98% drop in full-year net profit to $4.8 million despite an 18% increase in total revenue to $689.

Ryman Healthcare, New Zealand's largest retirement owner-operator, reported a significant 98% drop in full-year net profit to $4.8 million, despite an 18% increase in total revenue to $689.9 million. The decline in net profit was attributed to one-time costs, a drop in the value of investment properties, and impairments on the company's land bank. Ryman's revenue growth was driven by growth in care, village, and deferred management fees.