Arvida posts underlying full-year profit that beats IPO forecast, sees further growth

Sophie Boot
Tue, 24 May 2016

By Sophie Boot May 25 (BusinessDesk) - Arvida Group, which operates 21 retirement villages and aged care facilities, reported annual earnings ahead of its prospectus forecast and said it was confident of further gains in 2017. Underlying profit, which Arvida has said it will use as its primary earnings measure, was $15.8 million in the year ended March 31, about 19 percent more than its initial public offering forecast of $13.3 million given in December 2014. Underlying earnings strip out fair value changes to investment property and incl...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property
Consent refused for Thiel's luxury lodge
Brent Melville | Thu, 18 Aug 2022

It'll be back to the drawing board for the tech billionaire's NZ team, after their consent application was turned down by hearing commissioners.

Markets
Xero’s US revolving door continues to spin
Jenny Ruth | Thu, 18 Aug 2022

Xero’s progress in Britain continues to be “more subdued than we’d like”, chief executive Steve Vamos told the annual shareholders’ meeting.

Art
Artists could get resale royalties – but what about TradeMe?
Warren Feeney | Thu, 18 Aug 2022

Those in the art world are asking where TradeMe fits into the conversation as NZ starts to pay artists a percentage of the resale of their works.

Sponsored
In uncertain times, bricks and mortar hold steady

Can real estate provide a hedge against high inflation? Scott McKenzie, CEO of PMG Funds, talks about why tangible assets can be defensive and how PMG’s latest investment offer will help make the fund more resilient.

Sponsored
Communication the barrier to ‘human firewall’ technology

Communication is the barrier to New Zealand adopting the global Zero Trust cybersecurity strategy, says a new survey.