Retirement village company Metlifecare has reported a half-year profit, largely driven by a revaluation of its investment properties.
Metlifecare made a $17.3 million profit to the end of December, compared to a loss of $61.9 million for the same period the previous year.
The latest profit figure includes an $18.8 million revaulation of the company's investment properties.
Revenue for Metlifecare to December rose to $49.5 million, compared to a loss of $25.2 million the year previous.
No dividend is proposed, but Metlifecare says its half-year performance points to a more positive outlook.