Arvida on track as first-half profit climbs 47%

By Victoria Young | Tue, 19 Nov 2019


Arvida Group, the retirement village and aged care facilities operator, said it expects earnings momentum to continue after first-half profit rose by 47.4 percent, buoyed by increased property valuations.  Net profit after tax rose to $45 million in the six months ended Sept. 30, from $30.5 million a year earlier, with revenue up 5 percent at $79.6 million, the Auckland-based company said in a statement.  Increased valuations for Arvida's 32 villages underpinned the bottom line, with a $35.3 million increase, compared to a $25.3 million g...