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

 


METLIFECARE - Earnings Guidance Update May 2014

METLIFECARE - Earnings Guidance Update May 2014


Metlifecare (NZX: MET; ASX: MEQ) advises that its underlying profit (1) guidance for the year ending 30 June 2014 is increased to a range of $43 million to $46 million, from its previous guidance of $34 million to $38 million.

The lift in underlying profit guidance results from stronger settlements activity at The Poynton Stage 3 and higher capital gains and deferred membership fee income from resales activity. The underlying profit earnings guidance is based on Metlifecare’s trading performance to 30 April 2014 and assumes a continuation of these recent trading trends for the next two months to 30 June 2014.

Development is underway at three villages on Auckland’s North Shore. Stages 1 and 2 at The Orchards in Glenfield, collectively 54 apartments and 36 hospital beds, are now under construction, with considerable interest shown in both stages. At Metlifecare’s newest retirement village, Greenwich Gardens in Unsworth Heights, earthworks are nearing completion. The final stage of construction, comprising 62 apartments, at The Poynton is also underway.

With 14 out of a total of 25 villages in the Auckland area, Metlifecare is well positioned for growing retirement village demand in the region.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news