Metlifecare lifts underlying annual net profit 4%

Sun, 25 Aug 2019

By Jenny Ruth Aug. 26 (BusinessDesk) - Metlifecare’s annual net profit fell 68 percent because of smaller gains in the fair value of its retirement villages but underlying profit was up 4 percent and underlying operating cash flow rose 2 percent. Net profit for the year ended June of $39.2 million compared with $122.6 million the previous year – the unrealised value of its villages rose $53.9 million in the latest year after a $132.7 million gain the previous year. The underlying result of $90.5 million fell $1 million short of Forsyth...

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