Arvida, on expansion drive, more than doubles annual profit

Tue, 23 May 2017

By Tina Morrison May 24 (BusinessDesk) - Arvida Group, the retirement village company that listed in 2014, more than doubled annual profit as it expanded its offering and benefited from a buoyant property market. Net profit rose to $53.7 million in the 12 months ended March 31, from $24 million a year earlier, the Auckland-based company said in a statement. The latest earnings were boosted by a $39.3 million gain in the value of its investment properties, ahead of the $19.1 million gain booked the previous year. Revenue in the latest year...

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