Metlifecare has lifted its half-year profit by three-quarters, due to strong sales and rising property values.
The retirement village operator made a profit of $122.7 million in the year to June, an increase of 78 percent compared with the previous year.
Stripping out revaluation gains, the company's profit rose 14 percent to $52.4 million.
Revenue rose 39 percent to $224 million, due to building 133 more units, selling those units at higher prices, and a focus on more lucrative regions such as Auckland.
The company lifted its dividend by 20 percent to 4.5 cents a share.