Nov 27, 2023 / 10:00PM GMT
Operator
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.
Jeremy Nicoll - Arvida Group Limited - CEO
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
Half Year 2024 Arvida Group Ltd Earnings Call Transcript
Mar 28, 2024
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