Ryman’s shares sink 6% as cleanup continues

Dean Hamilton told BusinessDesk the company needs to be “sober”. (Image: Supplied)

Thu, 28 Nov 2024

Ryman Healthcare is getting its ship in order to capitalise on incoming tailwinds but increasing costs are eating into profits.The country’s largest retirement living and aged care provider walked back previous cashflow guidance in its half-year earnings to Sept 30 to the New Zealand Exchange (NZX) on Thursday.Shares fell 6% to $4.71 on high volumes after the result was announced.Ryman reported total revenue growth of 10% to $366.6 million compared with the same time last year as net profit after tax (npat) fell 50% to $94m. However,...

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