Metlifecare reports stronger underlying profit in 2018, lifts dividend

Mon, 27 Aug 2018

By Sophie Boot Aug. 27 (BusinessDesk) - Metlifecare, New Zealand's second-largest listed retirement village operator, reported a stronger underlying profit on improved revenue in 2018, though its headline profit weakened as its property portfolio made smaller revaluation gains as the housing market moderated. In the year to June 30, Metlifecare reported underlying profit before tax of $87.5 million, from $82.1 million a year earlier. Revenue rose 7 percent to $115 million. Net profit dropped to $125.1 million from $251.5 million in 2017,...

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