KEY POINTS:
Retirement village operator Metlifecare has reported a full year net profit of $30.7 million.
The company changed its reporting date to June 30 in mid-2006, meaning its previous reporting period was for six months.
For the six months to the end of June last year, Metlifecare's net profit was $11.5m, while for the year to the end of December 2005 it was $21.7m.
Total revenue was $171.4m for the June year, compared to $59.1m in the preceding six months.
Operating profit before interest, tax, unusual items and minority interests for the latest 12 months was $35.9m, while in the six month period it was $12.8m.
During the year Metlifecare resold 261 villas and apartments with an average selling price of $286,000, up from $267,000 in the previous six months.
The company also sold 106 new villas and apartments during the year, with an average selling price of $403,000, while for the six months before that the average was $449,000.
Revenue from membership fees for the year was $20.6m, up from $8.9m for the earlier six months.
At June 30 total assets were $400.3m from $356.7m a year earlier.
A final dividend of 12 cents per share was declared without imputation credits, bringing the total dividend paid for the year to 22c without imputation credits.
Metlifecare owns and operates 15 lifestyle villages, incorporating nine care facilities and 2287 villas and apartments, caring for more than 3100 residents.
Last month it announced it had approved a development in Takapuna on Auckland's North Shore, containing 246 "lifestyle" apartments, 15 serviced apartments and a number of resident-only care suites, next to North Shore Hospital.
- NZPA
