Retirement living and aged care provider Oceania says it has seen strong profit growth over the past year reflecting strong sales and resales of units, and increases in fees and charges.
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Key numbers for the 12 months ended March compared to a year ago:
- Net profit $61.1m vs not comparable
- Underlying profit $76.2m vs $65.6.8m
- Revenue $231.1m vs n/a
- Sales $450m vs $434m
- Dividend 4.4 cents a share
- Oceania changed its balance date to 31 March from 31 May last year.
Oceania chief executive Brent Pattison said the company had also taken "significant steps" to strengthen its balance sheet during the year for ongoing growth.
"This will enable Oceania to accelerate its development pipeline, add greenfield sites and compliment this growth with M&A activity," Pattison said.
The company recently entered into conditional agreements to buy properties in Auckland's Newmarket and Northland's Bream Bay Village for about $57m, with an option to buy 6.7 hectares of additional development land at Bream Bay.