• Home
  • Articles
  • Aveo announces $80m profit for FY16

    • Aveo announces $80m profit for FY16

    With 89 villages and 10,968 retirement living units in its portfolio, the private operator’s earnings have leapt a huge 62 per cent to $79.9 million over the last financial year to post the result.

    The reason? CEO Geoff Brady has cited its sale of 799 units, and the group’s increased focus on ‘care’, namely their buy-out of Freedom Aged Care and its 16 villages.

    They are also expecting a raft of new village and aged care developments to fuel growth, with 301 village units due to be completed in the next year, plus 100 aged care beds annually for the next decade from July 2017.

    While they plan to expand the Freedom business model of providing direct care in their villages – especially serviced apartments – on a not-for-profit basis, they will receive a higher DMF (deferred management fee) for their efforts.

     

    In a sign of investor confidence, they have also raised $125 million to purchase the last 27% of the 28-village (3,415 unit) RVG portfolio they didn’t own, capping off their winning week.

    Popular Articles

    View All Articles
    Article Img
    Your sense of balance later in life can be crucial – how to improve yours

    A fall at a later stage in life can be scary, and can even cause some serious damage. A sense of balance is not something we’re all equipped with, so as you age, falls can be a real sense of anxiety. However, there are lots of things you can do to prevent falling by improving your balance.

    Read More
    Article Img
    Retirement village family open their first land lease community

    Well-known retirement village family open their first land lease community in Victoria The Gannon family, led by Tom and Michael Gannon, have unveiled 226 homes at the Lucas Lifestyle Estate in Ballarat.

    Read More
    Article Img
    73% of Australians willing to sacrifice inheritance for aged care

    Nearly three-quarters of all Australians are willing to sacrifice their own inheritance so their parents and grandparents can enjoy the retirement they deserve, according to a new report by B2B aged care service CompliSpace.

    Read more
    Article Img
    Volunteers are the backbone of the aged care sector, and more are needed

    Tens of thousands of people, of all ages, such as 90-year-old Lily Burns and 20-year-old Charlise Hannagan, volunteer in aged care homes. The Change Makers is the theme for this year’s National Volunteer Week, 15 to 21st May, which celebrates the vital work of volunteers.

    Read more
    Article Img
    Your sense of balance later in life can be crucial – how to improve yours

    A fall at a later stage in life can be scary, and can even cause some serious damage. A sense of balance is not something we’re all equipped with, so as you age, falls can be a real sense of anxiety. However, there are lots of things you can do to prevent falling by improving your balance.

    Read More
    Article Img
    Retirement village family open their first land lease community

    Well-known retirement village family open their first land lease community in Victoria The Gannon family, led by Tom and Michael Gannon, have unveiled 226 homes at the Lucas Lifestyle Estate in Ballarat.

    Read More
    Article Img
    73% of Australians willing to sacrifice inheritance for aged care

    Nearly three-quarters of all Australians are willing to sacrifice their own inheritance so their parents and grandparents can enjoy the retirement they deserve, according to a new report by B2B aged care service CompliSpace.

    Read more
    Article Img
    Volunteers are the backbone of the aged care sector, and more are needed

    Tens of thousands of people, of all ages, such as 90-year-old Lily Burns and 20-year-old Charlise Hannagan, volunteer in aged care homes. The Change Makers is the theme for this year’s National Volunteer Week, 15 to 21st May, which celebrates the vital work of volunteers.

    Read more
    View All Articles

    A special thanks to our contributors

    Icons
    Jill Donaldson

    Physiotherapist

    Jill has been practicing as a clinical physiotherapist for 30 years. For the last 13 years she has worked solely in the Aged Care sector in more than 50 metropolitan and regional facilities. Jill has also toured care facilities in the US and Africa and is a passionate advocate for both the residents in aged care and the staff who care for them. She researches and writes for DCM Media.

    Read Profile
    Icons
    Chris Baynes

    DCM Media, agedcare101

    Chris has been a journalist and publisher in the retirement village and aged care sectors for 11 years. He has visited over 250 retirement villages and 50 aged care facilities both within Australia and internationally. Chris is a regular speaker at industry conferences plus is a frequent radio commentator.

    Read Profile
    Icons
    Annie Donaldson

    Nurse and Carer

    Annie has a long career in both nursing and the media. She has planned and co-ordinated the medical support from both international TV productions and major stadium events. In recent years she has been a primary family carer plus involved in structured carer support.

    Read Profile
    Icons
    Jill Donaldson

    Physiotherapist

    Jill has been practicing as a clinical physiotherapist for 30 years. For the last 13 years she has worked solely in the Aged Care sector in more than 50 metropolitan and regional facilities. Jill has also toured care facilities in the US and Africa and is a passionate advocate for both the residents in aged care and the staff who care for them. She researches and writes for DCM Media.

    Read Profile
    Icons
    Chris Baynes

    DCM Media, agedcare101

    Chris has been a journalist and publisher in the retirement village and aged care sectors for 11 years. He has visited over 250 retirement villages and 50 aged care facilities both within Australia and internationally. Chris is a regular speaker at industry conferences plus is a frequent radio commentator.

    Read Profile
    Icons
    Annie Donaldson

    Nurse and Carer

    Annie has a long career in both nursing and the media. She has planned and co-ordinated the medical support from both international TV productions and major stadium events. In recent years she has been a primary family carer plus involved in structured carer support.

    Read Profile