Metlifecare evaluating growth opportunities

Retirement village operator Metlifecare is evaluating growth opportunities, chairman Jim McLay told the company's annual meeting yesterday.

He said acquisitions and development opportunities would "consolidate and strengthen our dominant position in the industry," the Dominion Post reported today.

Metlifecare made a $21.5 million after-tax profit for the year to December and is forecasting a $24 million profit this year. Shares recently changed hands at $5 each.

Earlier this month the company announced it had bought Kapiti Village in Paraparaumu, for an undisclosed sum. The fully developed village, with 225 villas and resident facilities, was Metlifecare's 14th.

- NZPA