The retirement village company’s shares are sitting at a record high after climbing 56% this year. In line with a decade of earnings growth, they have climbed for more than 10 years.

“It is in line with our expectations," said chairman David Kerr at the annual meeting of shareholders.

The NZ government forecasts the number of those aged over 75 will triple to nearly 731,000 over the next thirty years. Kerr said the company is set to enjoy "30 years of exceptional demographic growth".

Similar growth is expected in Victoria where the company’s first Australian village is due to open next April in Melbourne.