Metlifecare lifts annual earnings, dividend on unit sales growth, beating estimates

Tue, 23 Aug 2016

By Paul McBeth Aug. 24 (BusinessDesk) - Metlifecare lifted annual earnings and dividends as the retirement village company continues to benefit from an ageing population and increased demand for its units. Underlying earnings, which strip out unrealised movements in the value of the Auckland-based company's property portfolio, rose 26 percent to $66.1 million in the 12 months ended June 30, beating Forsyth Barr analyst Jeremy Simpson's prediction of $63.3 million. That was driven by a 16 percent increase in sales of occupation rights agr...

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