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.
May 26, 2024
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