28 Feb 2014

Profit fall for Metlifecare

1:29 pm on 28 February 2014

Metlifecare's first-half profit fell 69.3 percent reflecting the one-off impact of its takeover of the Vision Senior Living and Private Life Care businesses in the previous year.

The retirement village operator's net profit fell to $26.8 million for the six months ended December, compared with $87.4 million in the year's previous six months.

Metlifecare says excluding the impact of the purchase and unrealised changes in property values, its underlying profit was actually up 77 percent.