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Metlifecare’s profit plunges 166% on property portfolio value fall

Its board has been busy with Asia Pacific’s on-off-on-again takeover bid.

Metlifecare’s has made an after-tax loss of $33.7 million in the year to June 30, down 166% on last year’s profit of $51.2m, on dampened property revaluations due to Covid-19.

The Auckland-based listed retirement village operator saw a $74.8m reduction in the fair value of its investment

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Calida Stuart-Menteath Wed, 26 Aug 2020
Contact the Writer: calida@nbr.co.nz
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Metlifecare’s profit plunges 166% on property portfolio value fall
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