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...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

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.

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

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team