Arvida lifts annual profit 7%, shares rise to 10-month high

Mon, 28 May 2018

By Tina Morrison May 29 (BusinessDesk) - Arvida Group, the retirement village company that listed in 2014, increased annual profit 7 percent after expanding its business and lifting margins. Its shares hit a 10-month high. Net profit rose to $57.6 million in the 12 months ended March 31, from $53.7 million a year earlier, the Auckland-based company said in a statement. The latest earnings included a $41.2 million unrealised lift in the value of its investment properties, ahead of the $39.3 million gain booked the previous year. Revenue ro...

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