By Duncan Bridgeman
Friday 2nd May 2003
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Chairman Peter Fitzsimmons told shareholders at yesterday's annual meeting the company had improved its operational facilities and was in a good position to take advantage of an aging population.
Changing demographics have been trumpeted by the industry for a while but the idea has failed to arouse interest from investors.
Metlifecare has been one of the better-performing companies in the industry though, reporting a net profit of $10.4 million for the year to December 2002, up from $7.2 million for the previous year.
At presstime yesterday, Metlifecare's shares' last trade was $1.18.
Last year the company sold its Epsom and Browns Bay facilities in Auckland and acquired new development opportunities in Takapuna.
No dividend was announced yesterday.
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