MET - Metlifecare - one for the fundies?

[BlackPeter]

And here it is: We passed the cross of death a week ago ... but sure, at some stage the trend will turn again (but not sure this is now).

Personally I feel more comfortable to watch retirement villages and REIT's at the moment from the sidelines and let my money work in uptrending stocks.

[Joshuatree]

One year return for MET 19.24%
RYM 1.23%
SUM 13.35%
ARV ​ the unpopular runt 44.15%

[BlackPeter]

One year return for MET 19.24%
RYM 1.23%
SUM 13.35%
ARV ​ the unpopular runt 44.15%

How do they say: "past returns are no indication for future performance" ...

[stoploss]

http://www.nzherald.co.nz/business/n...ectid=11792292

[BlackPeter]

http://www.nzherald.co.nz/business/n...ectid=11792292

Ouch - leaky building issues; Cheers for the link. The way this sounds in the article this might well consume one years worth of growth (unless they find more issues, of course). They need now to focus their building efforts on fixing and re-building existing villas instead of building new ones (they could sell). Sounds like a good time to be out of this stock - and wondering whether the other big 2 have similar shonky buildings;

Might impact as well on IFT ... they hold MET.

Discl: sold out some months ago;

[Bjauck]

Ouch - leaky building issues; Cheers for the link. The way this sounds in the article this might well consume one years worth of growth (unless they find more issues, of course). They need now to focus their building efforts on fixing and re-building existing villas instead of building new ones (they could sell). Sounds like a good time to be out of this stock - and wondering whether the other big 2 have similar shonky buildings;

Might impact as well on IFT ... they hold MET.

Discl: sold out some months ago;

I will have to check the age profile of the buildings owned by my Retirement sector stocks. MET is the most exposed imo. I would have thought that they should have checked by now all buildings built in the at risk era. I think MET would have the oldest stock. Would MET need to make an announcement to the NZX to the extent that new buildings have been revealed as "leaky"?

[JeremyALD]

They've disclosed this previously as a small risk. Unless there's another annoucement from MET I don't think things are too bleak.

[winner69]

.............

I think MET would have the oldest stock. Would MET need to make an announcement to the NZX to the extent that new buildings have been revealed as "leaky"?

Didn't you know - man from Devon says investors knew


Chris Gaskin of Devon Funds said issues at four Metlifecare villages - three in Auckland and one north of Wellington - were well flagged and investors knew.


Nothing new here by looks of it

[Bjauck]

Didn't you know - man from Devon says investors knew
Chris Gaskin of Devon Funds said issues at four Metlifecare villages - three in Auckland and one north of Wellington - were well flagged and investors knew.
Nothing new here by looks of it

There have been several announcements re Metlifecare's leaky buildings and they have been discussed at investor days.

I was unsure if the latest article also related to a greater number of affected buildings needing more remedial work than what has already been revealed by Metlifecare. Sowry said there were continuing investigations on the buildings and what work was needed. So maybe the scale of required remedial work is not yet fully known.

[macduffy]

Solid result from MET, but should this cause concern?

"“In terms of remediation, a comprehensive review has also been completed of all at-risk villages, and we have accordingly increased the estimate of future remediation costs by $23.5 million in the financial statements. This is in addition to the $20.6 million estimated at 30 June 2016 (excludes earthquake works of $1.4 million) and will occur over a period of seven years.”