7 Oct 2011

Metlifecare to conduct strategic review

6:22 pm on 7 October 2011

Listed retirement village operator Metlifecare says it will review its capital and ownership structure.

The company says the review will consider a range of initiatives to improve the capital structure, and share trading liquidity, to take advantage of an ageing population.

The review is expected to be completed within the next ten days.

Metlifecare, which operates 16 retirement villages and nine care facilities, is 82% owned by Retirement Villages New Zealand.

In the 2011 financial year, the company's profit fell by two-thirds to $20.8 million compared with the same period a year ago.