Metlifecare improves

Retirement village company Metlifecare has reported a half-year net profit of $17.3 million, largely driven by an $18.8 million revaluation of investment properties.

The result for the six months to December compared to a net loss of $61.9 million a year earlier, when the carrying value of investment property was written down by $55.3 million.

The company did not declare a dividend payment for the half year.

- NZPA