Metlifecare FY profit up 10%, sees no impact from housing market slowdown

Sun, 27 Aug 2017

By Rebecca Howard Aug. 28 (BusinessDesk) - Retirement village operator Metlifecare reported a 10 percent increase in full-year profit on the back of resale gains and wider development margins and said it isn't yet seeing any impact from a slowdown in New Zealand's housing market. Net profit was $251.5 million in the year to June 30 or $1.181 per share versus $228.7 million or $1.075 per share in the prior year, the Auckland-based company said. Underlying profit, which removes unrealised gains in asset values, was $82.1 million, up 24 perc...

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