Report
Tony Sherlock
EUR 98.48 For Business Accounts Only

Ageing and Cashed Up Demographic Remain a Strong Tailwind for Ryman. FVE Unchanged at NZD 9.10

Narrow-moat-rated Ryman Healthcare reported fiscal 2017 underlying earnings of NZD 178 million, or NZD 35.7 cents per share, up 13% on the prior year. This is the lowest level of growth since 2010, but consistent with expectations as the high-margin development activities naturally become a smaller part of operational earnings as the asset base increases. We raise our earnings forecast on slightly higher margin expectations from the Melbourne sites under development, aligning with the high dwell...
Underlying
RYMAN HEALTHCARE LTD.

Ryman Healthcare develops, owns and operates integrated retirement villages, resthomes and hospitals for the elderly within New Zealand and Australia.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Tony Sherlock

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