Retirement home operator Arvida reports strong FY19 earnings lift

Mon, 27 May 2019

By Pattrick Smellie May 28 (BusinessDesk) - Arvida Group is reporting a 17 percent increase in underlying profit after tax of $38.6 million for the year to March 31, citing new retirement villages acquired in previous years and higher resales of vacated units at higher margins as the main contributors to the result. The underlying profit measure gives a truer picture of operating performance than the statutory net profit after tax measure, which includes property portfolio revaluations and showed a 3 percent increase on the previous finan...

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