Oceania, a leading provider of critical infrastructure and essential services, has reported an increase in underlying earnings before interest, tax, depreciation and amortisation of 16.2%, lifting the value of total assets to over $2.2bn.
Care business revenue has more than tripled to $18.9m over the last five years, with 450 unit sales recognised in the year ended 31 March 2022 and 854 care suites delivered across 23 locations nationwide.
The executive team has been augmented with the appointment of Anita Hawthorne as Group General Manager Sales and Service, and the acquisitions of Remuera Rise and Bream Bay Village have been completed.
Oceania have lifted their annual build rate to over 300, have over 640 units and care suites under construction, and have a strong enquiry database.
The equity raise in March 2021 allowed Oceania to execute on their acquisitions with the lowest gearing levels in the industry, and a Sustainability Linked Loan has been secured with three key performance indicators.
The Helier at St Heliers, Auckland is expected to open by March 2023.
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