Ryman's plans retirement village in Petone
Tue, 31 Jul 2012 8:40p.m.
Retirement village builder and operator Ryman Healthcare says first quarter trading is ahead of last year and it plans to build its 28th retirement village in Petone in the Hutt Valley.
"We have reviewed the first quarter's trading and I'm pleased to advise that we are trading well and ahead of last year," chairman Dr David Kerr told the annual shareholders' meeting.
The company reported a record underlying net profit of $84 million for the year ended March 31, up 17 percent, and unrealised valuation gains boosted the bottom line to $121 million.
Ryman is building 700 retirement units and aged care beds a year.
Mr Kerr said the new 3.3 hectare site which was once the Petone High School will be developed into a village providing the full continuum of care from independent and services apartments to rest-home, hospital and dementia care facilities.
"It's a magnificent site for a village on the flat overlooking the Hutt River and surrounded by reserves on three sides, including Sladden Park," Mr Kerr said.
"The residents will enjoy wonderful vistas in every direction - to the Western and Eastern hills of the Hutt, to the Tararuas in the north and across Wellington Harbour to the city."
Lower Hutt is under-serviced by aged care facilities relative to other cities around New Zealand and has a growing retired population, the company said.
"The NZ Government has recognised the need for an additional 12,000 to 20,000 care beds to meet the projected growth in demand over the next 15 years."
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24/01/2013 10:18:51 p.m.
Mary and John MacNeill wrote:
we would like to know if and how we could put our names on the waiting list for the proposed new apartments at Petone
1/08/2012 9:00:27 a.m.
Ryman posted a $84 million dollar profit for this last year which is a huge amount made off the elderly who reside in their retirement villages. The staff who care for the elderly are paid a pittance for the amount of work of work they do. I myself have seen them go from one part of their job to another and it is non stop. They care for the residents, set tables, dish out the meals, clear the tables, do the dishes, hand out the medications, then one after the other they help the residents wash and get into bed. The carers look after our most valuable assets yet get the minimum wage. When they do not turn up for work they are not replaced and so the staff on have an increase in their work load. The person on the floor sees nothing off the @84 million dollars.
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