Greg Smith

So shares up more than 9% on Friday.

Record earnings.

They slashed debt.

They told investors they reckon they can be free cash flow positive next year.

So that should be...

Return of dividends, underlying earnings up 20%, record $97.7 million.

Really important number was debt.

We like to look at the debt numbers of particularly these types of companies.

That fell by more than $120 million to $507 million, so gearing's back down to the top.

Bottom of the company's target range.

That's calmed investors' nerves as well.

In terms of units for the retirement care operator, they sold 603 of them, so that was up 16%.

Resale activity strong and more momentum across Auckland.

But the old Hellyer in St.

Hellyer's, Mike, this remains the big test case.

It depends on how you look at it.

It has been a symbol of the retirement market stalling, but 74% of the apartments are now sold.

That was versus it being completely empty two years ago.

So they've still got $227 million of unsold development stock sitting on the balance sheet.

60% of it is in Auckland.