Retirement village operator Ryman Healthcare has posted a lower-than-expected half-year profit.

The company had earned $186 million after tax for the six months to September, a 4 percent decrease from 2022.

Chief executive Richard Umbers says this loss is driven by a more subdued housing market. 

"The housing market is under pressure. That impacts our ability to sell, which inevitably has a flow-through effect on the business." 

LISTEN ABOVE

Retirement village operator Ryman Healthcare has posted a lower-than-expected half-year profit.
The company had earned $186 million after tax for the six months to September, a 4 percent decrease from 2022.
Chief executive Richard Umbers says this loss is driven by a more subdued housing market. 
"The housing market is under pressure. That impacts our ability to sell, which inevitably has a flow-through effect on the business." 
LISTEN ABOVE

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