By Phil Boeyen, ShareChat Business News Editor
|
Thursday 14th March 2002 |
Text too small? |
The company has reported a net surplus of $7.2 million for the 12 months ended December, an increase of $6.7 million on the previous year's net profit of $474,000. The prior result included one-off costs of $2.2 million.
Chairman, Peter Fitzsimmons, says the latest result reflects margin growth and reduced operating costs.
"The injection of additional funds through a fully subscribed rights issue of $21 million contributed to debt reduction and has strengthened Metlifecare's financial position and ability to accelerate planned business activities.
"A successful development programme saw Metlifecare continue to realise the value held within its existing land bank, with considerable investment made in upgrading and refurbishing amenities at locations throughout the country."
Revenue for the year was $81.49 million compared with $85.34 million previously. No dividend has been declared.
No comments yet
UPDATE: Metlifecare shares fall 4.8% as posts drop as first-half profit falls 66%
Transpower seeks up to $125 mln in new bond ahead of November maturity
Metlifecare investigates building problems with Auckland Links Apartment complex
Resource Consent for new Glenfield Village for Metlifecare
Metlifecare undervalued compared with peers, Devon's Glass says
Metlifecare turned to a profit in 2013 after merger boosted property portfolio
Metlifecare raises $70 mln at 8.3 % discount in institutional placement
Metlifecare to raise $80M via placement, share purchase plan to repay debt
Metlifecare on track for $60M full-year post-merger cashflows
Metlifecare sells Nelson village for $29 million
