Ryman Healthcare’s first-half profit increased 13 per cent as a booming housing market lifted the value of its retirement villages. New Zealand’s largest retirement village operator posted after-tax profit of $212.4 million in the six months to September 30, up from $188.3m last year. Ryman and other retirement village operators have been rapidly erecting new villages and building big land banks for future development to cater for an ageing population. READ MORE:* Covid-19 cuts the value of Summerset's retirement village units sending profit plummeting to $1m. Supplied/Supplied Ryman Healthcare says the coronavirus pandemic crimped sales in the first half of its financial year.

Source: Stuff November 19, 2020 21:19 UTC