Metlifecare paper profits ended by slowing property marketMURRAY WILSON/STUFF Occupancy levels at its villages were 98 per cent. A knock-on effect of the slowing property market has been an end to the "spectacular growth" in asset values at retirement village Metlifecare. So we were essentially booking paper gains in terms of net profit after tax. READ MORE: Livelier retirement villages pay off for Metlifecare"I think everyone will acknowledge and accept that that level of increase is unsustainable and needed to return to more normalised levels." The company is still forecasting its underlying net profit to be least at last year's levels, despite embarking on a large-scale weathertightness repair programme.

Source: Stuff February 25, 2018 20:46 UTC