{"id":155550,"date":"2025-11-27T01:07:10","date_gmt":"2025-11-27T01:07:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/155550\/"},"modified":"2025-11-27T01:07:10","modified_gmt":"2025-11-27T01:07:10","slug":"ryman-healthcares-previous-interim-profit-turns-into-a-loss-with-lower-revaluations-but-ceo-cites-corner-turned","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/155550\/","title":{"rendered":"Ryman Healthcare\u2019s previous interim profit turns into a loss with lower revaluations but CEO cites corner turned"},"content":{"rendered":"

In October, it listed on the ASX.<\/p>\n

\"RymanRyman Healthcare CEO Naomi James, with Bruce Wattie, grandson of Sir James Wattie, unveils the plaque celebrating the official opening of James Wattie Village in Havelock North in April.<\/p>\n

Chief executive Naomi James said performance had strengthened because total revenue rose 13%, underpinned by a rising resident base and strong fee growth.<\/p>\n

\u201cThe business has stabilised, momentum is returning, and we are delivering results with meaningful progress achieved against FY26 priorities. <\/p>\n

\u201cThis result was the first positive free cash flow result in more than a decade of $56.2m.<\/p>\n

\u201cOur focus is now moving to accelerating performance across our portfolio of high-quality retirement villages.\u201d <\/p>\n

The Christchurch-headquartered company is chaired by Dean Hamilton.<\/p>\n

\"7676 and 78 Park Tce, Christchurch, owned by Ryman Healthcare. The retirement business has ditched plans to develop and marketed this land for sale. Photo \/ CBRE<\/p>\n

Occupation rights sales rose from 1300 previously to 1400.<\/p>\n

Two Christchurch rest homes, Margaret Stoddart and Woodcote, with 95 beds, shut in this year\u2019s first half. <\/p>\n

\u201cEarlier this year, Ryman confirmed it was reviewing its aged care bed capacity in New Zealand due to sector-wide under-funding, and two care centres have since been closed.\u201d<\/p>\n

Remuera\u2019s Edmund Hillary hospital care wing recently reopened following relevelling works<\/a>, the company said today.<\/p>\n

\"TheThe main block under repair at Ryman Healthcare’s Edmund Hillary Retirement Village in Remuera earlier this year. Photo \/ Anne Gibson<\/p>\n

Getting a bed in a Ryman rest home or hospital is becoming more expensive: \u201cCare pricing has seen robust growth year on year, with average daily room premiums up 10%\u201d.<\/p>\n

Following its $1b equity raise<\/a> on February 5 and refinancing $2b bank debt this month, the balance sheet reset was now complete, James said.<\/p>\n

The new funding structure aligned with the operating model.<\/p>\n

Total vacant stock increased from 1239 units in March 2025 to 1335 by September.<\/p>\n

That was partly due to building 179 new units, including major apartment stages at Kevin Hickman in Christchurch and Melbourne\u2019s Nellie Melba village.<\/p>\n

Vacant stock under contract increased from 367 to 380.<\/p>\n

Instead of having the lowest fees of 20% for money it keeps when a resident leaves – usually by dying – Ryman has hiked that lately.<\/p>\n

\u201cA refreshed sales strategy is rebuilding momentum and demonstrating confidence in Ryman\u2019s new standard 30% deferred management fee offering,\u201d it said today.<\/p>\n

On the outlook, James said sales in the second half of FY26 were expected to remain broadly in line with the first half.<\/p>\n

That reflects what she called mixed market conditions and the timing of unit delivery, which was weighted toward the first half.<\/p>\n

Anne Gibson<\/a> has been the Herald\u2018s property editor for 25 years, written books and covered property extensively here and overseas.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"In October, it listed on the ASX. Ryman Healthcare CEO Naomi James, with Bruce Wattie, grandson of Sir…\n","protected":false},"author":2,"featured_media":57217,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[103126,74,46520,1558,4282,138,3013,3500,16423,30609,88611,13640,51084,296,2225,2513,1132,111,139,69,5351,5340,103127,103125,23531,312,33349,20563,19054,32951,102],"class_list":["post-155550","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-451m","tag-after","tag-balance","tag-been","tag-boss","tag-business","tag-but","tag-ceo","tag-cites","tag-corner","tag-healthcares","tag-important","tag-interim","tag-into","tag-loss","tag-lower","tag-million","tag-new-zealand","tag-newzealand","tag-nz","tag-previous","tag-profit","tag-reset","tag-revaluations","tag-ryman","tag-says","tag-sheet","tag-transformation","tag-turned","tag-turns","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/155550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=155550"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/155550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/57217"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=155550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=155550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=155550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}