Metlifecare Ltd (ASX:MEQ) has provided an update on its strategic goals and delivery plan.
The NZ retirement village providers earned a record profit of $228.7 million last financial year which is an increase of 86% on the previous year.
This financial year, the company is forecasting to more than double its delivery of new units and care beds to 229 – with the number to steadily increase to 300 in FY19.
The company is also planning to complete at least one land purchase acquisition add to its existing pipeline of development projects.
Metlifecare is expecting its development margin to meet or exceed 15% (at the minimum).
Metlifecare reported a net profit of $218 million at 30 June 2016.
