Metlifecare chairman Charles MacDonald says many challenges remain for the company, despite the good turnaround in financial performance last financial year.In his speech to the retirement village operator's annual meeting today, Dr MacDonald said that in
Metlifecare chairman Charles MacDonald says many challenges remain for the company, despite the good turnaround in financial performance last financial year.
In his speech to the retirement village operator's annual meeting today, Dr MacDonald said that inquiries for the company's products and services continued to increase last year to new levels, many of which converted into settlements.
"However, the buoyant economic conditions in the housing market last year are not being experienced to the same extent this year and there remains many challenges for the company."
In the year to the end of June, Metlifecare recorded its highest level of new inquiries and resales settlements figures.
Operating revenue lifted $4.3m to $62.8m, while net cash flows from licensing and re-licensing activities was up $15m to $42.1m, which Dr MacDonald said represented a vastly improved sales environment.
Chief executive Alan Edwards said that during the past year the business grew with the addition of 47 apartments and 15 serviced apartments at Metlifecare's newest lifestyle village, The Poynton in Takapuna.
The company would continue to seek opportunities for growth, and had development opportunities on land next to existing villages.
