Ryman ditches the sugar-coating and pushes out positive cashflow date

Has Ryman executive chair Dean Hamilton gifted new CEO Naomi James a clean slate? Source: Ryman.

Would you rather a listed company sugar-coated its results and used accounting tricks to massage the numbers into a more palatable but misleading concoction, or would you rather the company just told you straight what's happening in the business?

I know I prefer the latter, and full marks to Ryman Healthcare's executive chair Dean Hamilton for delivering on far more transparency than we've ever seen before from this company.

But the bottom line is that the results are still a disappointment, with the key takeaway being that getting to positive cash flow has been pushed out of the current financial year and into 2026.

Instead of breaking even or having positive cash flow in the current year, the company now expects to have negative free cash flow to the tune of between $50 million and $100 million for the year ending March 2025.