NZ's Arvida Group hits record high on upbeat HY results

Arvida

18/11/2019 23:10

** Shares of Arvida Group Ltd  ARV.NZ  rise as much as 4.5%
to a record high of NZ$1.62 after posting upbeat HY results
    ** Retirement home operator posts net profit after tax of
NZ$45.0 mln ($28.79 mln), up 47% from a year ago  urn:newsml:reuters.com:*:nFWN27Y0UO
    ** Co also declares dividend of 1.45 cents per share for Q2
    ** Arvida says momentum in H1 expected to continue for the
balance of FY
    ** Stock posts its biggest intraday percentage gain since
May 2017
    ** Stock second biggest percentage gainer on the S&P/NZX 50
index  .NZ50  
    ** Stock has risen 23.5% this year, as of last close


($1 = 1.5632 New Zealand dollars)

 (Reporting by Shreya Mariam Job in Bengaluru; editing by Jane
Wardell)
 ((ShreyaMariam.Job@thomsonreuters.com;))