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

 

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Planes: Jetstar Launches Regional Network

Jetstar, the Qantas Airways budget offshoot, launched its new regional network in New Zealand with special $9 one-way fares and has narrowed down its choices to five routes and four destinations - Nelson, Napier, New Plymouth, and Palmerston North. More>>

ALSO:

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news