Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Metlifecare sees annual earnings growth of up to 18%

Metlifecare sees annual earnings growth of up to 18%

March 11 (BusinessDesk) - Metlifecare, the retirement village operator which counts the New Zealand Superannuation Fund and Infratil as cornerstone investors, sees annual earnings growth of up to 18 percent provided current trading conditions stay in place.

The Auckland-based company forecasts underlying profit of between $34 million and $38 million in the 12 months ending June 30, up from $32.1 million a year earlier, it said in a statement just before the market closed. The guidance assumes recent trading conditions will persist, it said.

Underlying profit removes the one-off gains Metlifecare recognised from the merger with Vision Senior Living and Private Life Care Holding and unrealised movements in the value of its property portfolio.

The shares were unchanged at $4.10, and have climbed 29 percent over the past 12 months.

Metlifecare reported a 77 percent lift in first-half underlying profit to $15.3 million, and was focused on driving development opportunities in the upper North Island, where it hopes to benefit from an ageing population in need of quality retirement and aged care facilities.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fund For PPP Plans: Govt Embraces Targeted Rates To Spur Urban Infrastructure

The government's latest response to the Auckland housing shortage will see central government and private sector firms invest in 'special purpose vehicles' to fund essential roading, water and drains that Auckland Council can't fund without threatening its credit rating. More>>

ALSO:

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO: