Arvida doubles 1H profit, expects strong annual result

Tue, 22 Nov 2016

By Sophie Boot Nov. 23 (BusinessDesk) - Arvida Group, the retirement village and aged care facilities operator, says it's "on track to deliver a strong FY17 result" after it more than doubled first-half profit. Net profit rose to $19.4 million in the six months ended Sept. 30, from $7.4 million a year earlier, with revenue up 27 percent to $49.9 million, the Auckland-based company said in a statement. Arvida, which has 25 villages across the country, also gained $14.3 million from an increase in the valuation of its investment properties,...

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