"The directors expect the company to report growth in operating cash flow of 15 per cent compared to the $21.2 million result recorded during the 2009 financial year." Earnings per share was two cents compared to a loss per share of 11.9 cents in prior corresponding period. At balance date gearing was 24 per cent, with net debt of $83.7 million. Aevum said its merger with IOR Group Ltd (IOR) made it one of the largest pure retirement living and aged care companies listed on the Australian Securities Exchange (ASX). "The merger creates a significantly larger business with a 44 per cent increase in units/apartments to 3,108 with a national footprint providing increased market presence and a solid foundation for future growth," the company said.