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

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...

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