Half Year 2024 Arvida Group Ltd Earnings Call Transcript
Good day, and thank you for standing by. Welcome to Arvida's Half Year Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Jeremy Nicoll, from -- CEO. Thank you.
Good morning, everybody, and welcome to Arvida's 6 monthly results call for the first half of FY '24. As we indicated back at our annual results in May, we had a relatively cautious tone to our outlook, and that proved to be correct as we've been operating in a rather tough environment with higher inflation, higher interest rates and a weaker residential housing market, all of which had various impacts on our results and cash flows.
Positively though, we are starting to see a bunch of green shoots emerging. We've seen increases in our care occupancy post-COVID, getting back up to normalized levels. In 1 July, we saw higher funding costs coming through for our care business. They are funding costs up on average around 10%. So
Access to All Earning Calls and Stock Analysis | |
30-Year Financial on one screen | |
All-in-one Stock Screener with unlimited filters | |
Customizable Stock Dashboard | |
Real Time Insider Trading Transactions | |
8,000+ Institutional investors’ 13F holdings | |
Powerful Excel Add-in and Google sheets Add-on | |
All data downloadable | |
Quick customer support | |
And much more... |