Retirement home operator Arvida reports strong FY19 earnings lift

Retirement home operator Arvida reports strong FY19 earnings lift
Pattrick Smellie
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...

More Property

Government looks to sell 35 homes in Waikanae
Policy

Government looks to sell 35 homes in Waikanae

Ministry to pay $21.5m and on-sell homes after developer triggers underwrite.

Oliver Lewis 21 Jan 2025
Clarkes hand over 'certain items' to Du Val receivers
Property

Clarkes hand over 'certain items' to Du Val receivers

The failed property group's founders had until Wednesday to front up with the assets.

Maria Slade 16 Jan 2025
Analysts expect RV companies to raise equity
Property

Analysts expect RV companies to raise equity

“We expect investor support for a capital raise," Jarden's Arie Dekker said.

Gregor Thompson 15 Jan 2025
Future of apprenticeships kicked down the road again
Property

Future of apprenticeships kicked down the road again

Industries will be presented with two options this month, the skills minister says.

Maria Slade 14 Jan 2025