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Metlifecare provides updated Cashflow Guidance
Metlifecare provides updated Cashflow Guidance
Retirement village and aged care provider Metlifecare Limited advises that, further to its presentation released to the market on 30 May 2013, it is now in a position to further update the market on its operating cash flow guidance.
In the presentation, the company confirmed that the earlier forecast of $60.7 million (excluding merger and acquisition costs and interest) would be exceeded. Since that date, the company has completed an additional month’s statutory accounts and updated its forecast for the current month. On the basis of this further information, Metlifecare is now in a position to confirm that the current forecast estimate is revised to $70 million for the year ended 30 June 2013.
The further update above confirms the strength in the recent property market which has assisted the company to generate greater volumes of resales as well as increased margins. The company has also seen improvements in sales volumes.
ENDS
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