Share
- Release Date: 14/06/13 13:13
- Summary: FORECAST: MET: Cash Flow Guidance Update
- Price Sensitive: No
- Download Document 1.67KB
MET
14/06/2013 11:13
FORECAST
REL: 1113 HRS Metlifecare Limited
FORECAST: MET: Cash Flow Guidance Update
CASH FLOW GUIDANCE UPDATE
Retirement village and aged care provider Metlifecare Limited advises that,
further to its presentation released to the market on 30 May 2013, it is now
in a position to further update the market on its operating cash flow
guidance.
In the presentation, the company confirmed that the earlier forecast of $60.7
million (excluding merger and acquisition costs and interest) would be
exceeded. Since that date, the company has completed an additional month's
statutory accounts and updated its forecast for the current month. On the
basis of this further information, Metlifecare is now in a position to
confirm that the current forecast estimate is revised to $70 million.
The further update above confirms the strength in the recent property market
which has assisted the company to generate greater volumes of resales as well
as increased margins. The company has also seen improvements in sales
volumes.
ENDS
For more information, please contact:
Alan Edwards
Managing Director & CEO
Tel: +64 9 539 8000
About Metlifecare
Metlifecare is a publicly-listed aged care and retirement lifestyle company.
Established in 1984, the company has a proven track record of successfully
owning and managing retirement villages in New Zealand. Metlifecare currently
owns villages in prime locations throughout the North Island of New Zealand,
with most providing a full continuum of care from independent villas and
apartments through to serviced apartments, rest homes and hospitals.
www.metlifecare.co.nz
End CA:00237415 For:MET Type:FORECAST Time:2013-06-14 11:13:52
