Metlifecare picks rise in profit

Last updated 09:46 12/03/2014

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Listed retirement village operator Metlifecare is forecasting a profit lift of at least 6 per cent for the full year.

In a statement to the stock exchange late yesterday, it said it expected to report an underlying net profit between $34 million and $38m for the year to June 30.

Underlying profit is an informal measure that excludes unrealised changes in property values, one-off items and deferred taxation.

Last year's underlying profit was $32.1m.

Last month Metlifecare reported an underlying profit for the half-year to December 31 of $15.3m.

The company's shares last traded at $4.10, up 28.1 per cent compared to this time last year.

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- Fairfax Media

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