Ryman Healthcare wins praise
Ryman Healthcare has been ranked as a top healthcare company by a consultancy group.
The Boston Consulting Group's 2014 value creators report places Ryman among the 10 best-performing healthcare companies in the world.
The rankings were compiled after researching shareholder returns at 10,000 global companies across 28 sectors from 2009 to 2013, the Christchurch-based retirement village operator said.
Ryman was ranked eighth in the world's healthcare sector, with an average annual shareholder return of 45.5 per cent.
Ryman said it was the only New Zealand business to make the rankings, and only two Australian companies made the list.
In May, Ryman reported an annual net profit of $195 million, up from $136.7m in the year to March 31, 2013, boosted by $85.1m valuation gains on its properties and business.
The company's shares have slipped since hitting a peak of nearly $9 in May. This morning they were untraded and last traded at $7.72.
Ryman managing director Simon Challies said the ranking was recognition of how the company had performed, particularly during the global financial crisis.
"I think it recognises that we came through the GFC in good shape - those were tough years," he said.
"We had a strong balance sheet, a conservative debt position and we kept investing in growth throughout those years while others pulled back."
Ryman will officially open its first retirement village in Melbourne this week.
Challies said the company saw great prospects for growth across the Tasman.
"The Australian market is five times larger than New Zealand's and we've been very successful in our first venture over there," he said.
Ryman is listed on the NZX and has been included in the global FTSE and MSCI indices in the past year.