Arvida on track as first-half profit climbs 47%

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...

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