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

 

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO:

New Report: Waitākere Kauri - Look After It, Or Lose It

With no cure for kauri dieback disease and treatment options still being trialled, the Auckland region faces a very real threat – take urgent action in the Waitākere Ranges or risk losing kauri from our forests altogether. More>>

ALSO: