Friday 20th November 2020
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Ryman reports unaudited first half underlying profit of $88.4 million, a decrease of 14.2% due to the impact of COVID-19.
Shareholders will receive an interim dividend of 8.8 cents per share in line with underlying profit. The record date for entitlements is December 11, and the dividend will be paid on December 18, 2020.
Chief Executive Gordon MacLeod said the pandemic had increased costs and restricted sales and construction activity in key markets.
But with lockdowns coming off in Victoria and a buoyant housing market in New Zealand, Ryman was expecting conditions to improve in the second half, and the company had a record number of new villages in the pipeline to take advantage of the recovery.
The construction team continued to build at a reduced rate in Victoria and Ryman is planning to have five villages open in the state by December 31, although there is potential for this to be slightly delayed because of COVID-19.
Ryman is now looking to recruit a chief executive for its Australian operations for the first time as the company gears up to expand in Victoria and into other Australian states.
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