Metlifecare provides updated Cashflow Guidance

Friday, 14 June 2013, 11:46 am
Press Release: Metlifecare

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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Metlifecare

At Metlifecare we create homes and communities

At Metlifecare we create homes and communities. Places of belonging, villages humming with life. With a range of unique villages nationwide (and more in development), plus more than 30 years in the business of looking after Kiwi retirees, we are a well-known and trusted operator, and we take our role seriously. 31269 8387

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• Website - www.metlifecare.co.nz
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