Metlifecare's property values rise further

Wed, 22 Feb 2023

Retirement village operator Metlifecare said first-half net profit plunged, reflecting smaller property valuation gains and rising costs.It reported a $12.8 million net profit for the six months ended December compared with the $114.3m profit reported for the previous first half.The value of its properties rose $46.7m in the latest six months compared with a $129.6m gain in the previous first half.Metlifecare said the latest gain was largely driven by strong resale and new development pricing during the latest period.“The resilience of Me...

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