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27-12-2021, 09:07 PM
#271
Member
Originally Posted by airedale
Does Andrew have a surname?
Andrew Mitchell,
is in the latest announcement if you want more details.
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10-03-2022, 02:32 PM
#272
Member
Aldwins House progress
Originally Posted by Charlie
Andrew has worked in New Zealand, United Kingdom and Australian property
markets for 20 years.
He spent 13 years at Ryman Healthcare as a Senior Executive and Chief
Development Officer
overseeing the acquisition, consenting and development process throughout
Australasia. During this
period, rapid acquisition and development saw the market capitalisation
increase from $750m to
over $7 billion.
as at 15:59:07, Thursday 23 December, 2021 (NZDT)
ACQUISITION OF ALDWINS HOUSE AND DIRECTOR APPOINTMENT
PHL
23/12/2021 15:59
TRANSACT
PRICE SENSITIVE
REL: 1559 HRS Promisia Healthcare Limited
This could be good for the company.
Promising progress announcement yesterday has gone under the radar a bit. Got a better feeling about it especially if arrangements with Rannadale residents work out.
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10-03-2022, 02:53 PM
#273
Looking at the website, the Aldwins House seems to have a modern & contemporary fit-out - targeting the middle strata of the market?
Rannadale has good Google ratings and also seems to be mid market, so could be a good fit for Aldwins/Promisia.
I wonder why Rannadale is closing? Perhaps too small to be commercially viable?
Success is a journey AND a destination!
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24-03-2022, 09:04 PM
#274
Member
Originally Posted by lola
promising progress announcement yesterday has gone under the radar a bit. Got a better feeling about it especially if arrangements with rannadale residents work out.
and they have according to announcement today
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24-03-2022, 09:38 PM
#275
Originally Posted by Lola
and they have according to announcement today
Bit of a win win ,getting a lot of residents and staff in one hit.
Last edited by percy; 24-03-2022 at 09:42 PM.
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31-05-2022, 10:35 AM
#276
Member
PHL
31/05/2022 08:30
FLLYR
PRICE SENSITIVE
REL: 0830 HRS Promisia Healthcare Limited
FLLYR: PHL: Full Year Results to 31 March 2022
PROMISIA HEALTHCARE FULL YEAR RESULTS
Promisia Healthcare Limited (NZX: PHL) has reported its unaudited,
preliminary results for the year ended 31 March 2022 (FY22), marking its
first full year of operation as an aged care business, compared to five
months in the previous financial year.
Income was $21.0 million, including an increase in fair value movement of
investment properties of $0.8 million. Revenue is sourced primarily from
Government funding (approximately 67%) with the remainder from private
payment. There were 4 new sales and 13 resales of occupation rights
agreements (ORAs) completed during the period.
Earnings excluding fair value movements (EBITDAF1) were $4.5 million for the
period. The Group reported a net profit after tax of $2.4 million.
At 31 March 2022, total assets were $52.1 million, including cash and cash
equivalents of $2.4m. Debt was $17.2 million, consistent with prior
comparative period, and excludes debt associated with the acquisition of
Aldwins House which occurred post-year end.
Positive progress on strategic initiatives
The company made good progress on its two primary areas of focus during the
year - strengthening the operational platform of the business and the
progressive opening of new beds and increasing occupancy at Aldwins House in
Christchurch.
In March 2022, shareholders approved the acquisition of Aldwins House for
$13.0 million, which settled on 1 April 2022 and was funded by vendor finance
and new and existing debt facilities. This purchase now means that all four
of Promisia's facilities are fully owned by the company.
Aldwins House had been operating at a loss. New management, increased
occupancy and the reduction in rental versus interest costs mean that it is
now operating at a cashflow breakeven position. It is expected that a more
positive cashflow outcome and trading profits will be realised in FY23 as
occupancy increases.
Investment has been made into business infrastructure to integrate Promisia's
four facilities and create a strong foundation for growth. This investment
includes standardising systems across the group and investing in people and
technology, particularly a new payroll and rostering system. This work is
ongoing with continued investment planned in FY23.
In addition, the Ranfurly Manor Village development in Fielding has
progressed well with the ten new care suites and four of the planned 32
villas now completed. The development is being undertaken on a fixed cost
basis where the developer is repaid from the proceeds of each initial sale of
an ORA for a new villa or care suite. Therefore, this development will not
produce any significant income until the second sale of ORAs for these villas
and care suites.
The ongoing COVID-19 pandemic continues to impact on New Zealanders,
particularly more vulnerable older people. Promisia's focus has been on staff
and resident health and wellbeing and the systems and protocols put in place
during 2021 have stood the company in good stead. Training, recruitment and
retention of highly valued and qualified care staff remains a priority.
Chair of Promisia, Stephen Underwood, said: "The majority of our people live
locally and play an essential role in creating the family environment that is
such an important part of our facilities. We are incredibly proud of them and
fortunate to have a team of such caring and committed people. On behalf of
the Board and management, we acknowledge and thank every member of our team
for their efforts and the amazing care they provide."
Following the financial year-end, in May 2022, Promisia was pleased to
announce the appointment of experienced aged care executive, Stuart
Bilbrough, as CEO. Stuart takes over the role from Chris Brown, who stepped
down in March 2022. The Board thanks Chris for his contributions and efforts
in establishing a strong operational platform for Promisia from which the
company can continue to grow.
Outlook
New Zealand has an ageing population and there is increasing demand for
quality care options, particularly in provincial New Zealand, that allow
people to stay close to family and friends and the neighbourhoods they know
and love. New facilities will need to be built to meet demand, particularly
for higher needs and specialised care. These are areas which are often
under-resourced in terms of aged care and are a particular focus for
Promisia. In addition, increasing compliance is driving sector consolidation
with smaller facilities finding it more difficult to remain viable.
In FY23, the company will continue to drive revenue through a focus on the
following areas:
? Maximise occupancy at Aldwins House
? Broaden the revenue mix through the sale of retirement villas and
increasing the range of services offered
? Delivering resident-centric care
? Pursue targeted acquisition opportunities that meet Promisia's criteria
? Continue the development at Ranfurly Manor
Stephen Underwood commented: "Promisia operates in a sector with attractive
dynamics and is well positioned to build off its small footprint and grow. We
have a carefully considered and diversified strategy and are putting the
infrastructure in place to allow us to scale up in size. We have identified
growth opportunities, both within our existing footprint and through
acquisition, and look forward to delivering on these opportunities."
ENDS
For more information, please contact:
Stuart Bilbrough, Chief Executive Officer on +64 252 5778 or email
stuart.bilbrough@promisia.co.nz
Stephen Underwood, Chairman on +64 27 499 3387 or email stephen@renouf.co.nz
End CA:00392992 For:PHL Type:FLLYR Time:2022-05-31 08:30:49
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28-11-2022, 03:12 PM
#277
Member
Acting Chair, Helen Down, said: "While a smaller player in the NZX listed
retirement and aged care sector, Promisia has ambitious goals and is well
positioned for growth, with strong cashflows and growing balance sheet.
Industry dynamics point to increasing demand for quality care options and
Promisia is well positioned to build off its small base and grow. We have a
clear strategy being led by a new CEO with many years' industry experience
and supported by an expanded management team. The Board thanks the dedicated
teams in each of our facilities who are committed to delivering high quality,
personalised care to senior New Zealanders in the communities that we
operate."
can't get much lower than 0.001c unless they give them away in a Christmas Cracker.
onwards and upwards hopefully .
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28-11-2022, 04:08 PM
#278
Originally Posted by Charlie
Acting Chair, Helen Down, said: "While a smaller player in the NZX listed
retirement and aged care sector, Promisia has ambitious goals and is well
positioned for growth, with strong cashflows and growing balance sheet.
Industry dynamics point to increasing demand for quality care options and
Promisia is well positioned to build off its small base and grow. We have a
clear strategy being led by a new CEO with many years' industry experience
and supported by an expanded management team. The Board thanks the dedicated
teams in each of our facilities who are committed to delivering high quality,
personalised care to senior New Zealanders in the communities that we
operate."
can't get much lower than 0.001c unless they give them away in a Christmas Cracker.
onwards and upwards hopefully .
These backdoor boys jumped in after the sector has had its run and the tide is going out.
Another great decision by the clowns.
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28-11-2022, 05:23 PM
#279
Junior Member
"Promisia Healthcare Limited’s subsidy owned aged care business, Ranfurly Manor Limited, has recently gonethrough an audit of its holiday pay calculations by the Ministry of Business, Innovation and EmploymentLabour Inspectorate and found to have breached sections of the Holidays Act 2003"
Any idea as to how impactful this could be?
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28-11-2022, 09:57 PM
#280
Originally Posted by mudd
"Promisia Healthcare Limited’s subsidy owned aged care business, Ranfurly Manor Limited, has recently gonethrough an audit of its holiday pay calculations by the Ministry of Business, Innovation and EmploymentLabour Inspectorate and found to have breached sections of the Holidays Act 2003"
Any idea as to how impactful this could be?
Who cares? The only thing of value here is the movie rights to the film 'Promisia'.
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