Ryman lowers profit guidance, blaming weaker sales

Chief executive Richard Umbers. (Image: Supplied)

Mon, 19 Feb 2024

Ryman Healthcare has downgraded its full-year profit expectations, blaming lower-than-forecast sales.The New Zealand stock exchange-listed retirement village operator’s previous profit guidance of between $300 million and $330m was based on the assumption of 273 occupations right agreements (ORAs) sales.However, now the company believes it will sell “closer to” 218 ORAs with tighter margins on the resales across villages and units.As a result, Ryman lowered its profit guidance to between $265m and $285m for the 12-month p...

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