Friday 18th December 2020
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The first half unaudited underlying profit dropped by 14.2% to $88.4 million, due to restrictions on sales and construction activity caused by the pandemic.
Unaudited reported (IFRS) profit, which includes unrealised fair value gains on investment property, increased 12.8% to $212.4 million in the six months to 30 September.
Shareholders will receive an interim dividend of 8.8 cents per share in line with 50% of underlying profit.
The record date for entitlements is 11 December, and the dividend will be paid on 18 December 2020.
Ryman has a record number of new villages in the pipeline.
While there is likely to be some ongoing uncertainty due to the pandemic, there is clearly a lot of pent-up demand in the housing market. Ryman is anticipating cash collections of at least $275 million in the second half from new sales. With 12 villages under construction and more on the way, Ryman has a strong platform for growth.
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