Deleted....................
Printable View
Deleted....................
Privately-owned $5.3 billion retirement giant Metlifecare pushed revenue up 32 per cent in the latest half-year from rising sales and retaining 30 per cent of residents’ money once they leave.
The company, which delisted from the NZX after a takeover three years ago, said its new unit sales and deferred management fee from resales meant it made more money.
The company, whose villages are mainly in the North Island, retains 30 per cent of the money elderly residents pay on entry.
The first three sentences in The Herald, gives you clear indication of the writers attitude towards the industry?
From the other place an interesting post
Speaking of renting retirement villages, INA in Australia just reported. Share price got hammered after the outlook was revised from 30% EBIT growth to 0-10% growth.
"The Group anticipates settling 370-420 homes in FY23, as new homes complete in the second half. This compares to expected settlements of 460-485 announced on 10 November 2022.
The Group is building approximately 500 new homes in FY23 and now expects homes previously anticipated to settle in FY23 to drift into FY24"
Things seem to be changing quickly, could be a warning for the NZ operators.
I haven't been keeping up with the thread of late, but hopefully someone has pointed out the outstanding capital allocation of OCA in comparison to the trainwreck allocation of the supposedly far superior Ryman?