Metlifecare property values rise a third less than last year

Fri, 26 Aug 2022

Retirement village operator Metlifecare reported a 74.2% drop in annual net profit, largely because the increase in the value of its properties was smaller than in the previous year, but also because expenses jumped 21.2%.The company, which is now owned by Sweden’s EQT, reported a $78.7 million net profit for the year ended June, down from the $304.4m bottom line the previous year.The value of its properties rose by $111.4m in the latest year after a $335.5m increase the previous year, while expenses rose 21.2% to $210.3m.Operating revenu...

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