Arvida lifts first-half per-share earnings 10%

Arvida lifts first-half per-share earnings 10%
CEO Jeremy Nicoll said care earnings were hit by under-funding. (Image: Arvida)
Jenny Ruth
Arvida lifted first-half net profit by 18% while underlying profit was up 46%, reflecting recent acquisitions.The retirement village operator lifted net profit for the six months ended September to $89.2 million from $75.5m in the same six months last year with unrealised property valuation gains of $89m, up from $69.1m in the previous first half.The underlying result of $38.9m was up from $26.6m in the year-earlier period and will translate to a 10% increase in per-share earnings – the company raised $330m from selling new shares last No...

More Infrastructure

Limits to city fringe growth no threat: Kiwi Property boss
Infrastructure

Limits to city fringe growth no threat: Kiwi Property boss

Council plans to limit city fringe growth no threat to Drury East, Kiwi Property says.

EU-NZ FTA could boost offshore wind and clean energy investment
Infrastructure

EU-NZ FTA could boost offshore wind and clean energy investment

The EU FTA might help offshore wind, but more will be needed, Giacomo Caleffi argues.

Dileepa Fonseka 23 May 2024
Logs and cruise bolster earnings for Napier Port
Infrastructure

Logs and cruise bolster earnings for Napier Port

The port benefited from its new wharf, achieving a record cruise season.

Oliver Lewis 22 May 2024
Infratil has $800m to play with
Infrastructure

Infratil has $800m to play with

Digital assets including One NZ and data centres dominated earnings for Infratil.