Metlifecare lifts annual profit 78% as property values jump

Tue, 25 Aug 2015

By Tina Morrison Aug. 26 (BusinessDesk) - Metlifecare, New Zealand's second-largest listed retirement village operator, lifted annual profit 78 percent after its properties jumped in value. Net profit rose to $122.7 million, or 57.9 cents per share, in the 12 months ended June 30, from $68.8 million, or 32.7 cents, a year earlier, the Auckland-based company said in a statement. The value of its investment property increased $121.2 million, ahead of a $65.7 million gain the year earlier, lifting the total value to $2.23 billion. Excludi...

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