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.

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A special thanks to our contributors

Jill Donaldson


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.

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.

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.