Retirement living and aged care company Aevum has announced a net after profit tax of $22.9 million for 2006-07. It is a 72 per cent increase on the $13.4 million recorded for the year before.

Aevum’s CEO Simon Owen, said the record gains were assisted by the company’s growth in the retirement sector in the last year, particularly in the Western Australia and Coastal NSW markets.

“The year just finished was a transformational period for the company as we grew from a niche Sydney operator into a key industry participant”, Mr Owen said.

The company forecasts further improvement in the current financial year, but said during periods of strong valuation growth such as Aevum is currently experiencing, operating cashflows will affect earnings.

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