NZ’s largest retirement village operator posts 17% increase in underlying profit to a record - beating guidance - after it speeding up its building programme to meet demand for units.

Listed Ryman Healthcare does it again.

The property index eased marginally compared with the NZX50. But over the past 12 months, listed property is still ahead 9.6%, compared with the NZX50 which has gained 2.5%.

Retirement village and rest home operator Ryman Healthcare has announced a realised profit of $61 million for the year, up 16% on last year and a new record for the company.

The reported profit also increased, up 19% to $78 million thanks to unrealised valuation gains.

Operating cashflows were up 31% to $149 million for the year, which allowed the company to reinvest $120 million in new facilities without increasing debt.