May 22, 2014 / 10:12 PM / 3 years ago

NZ's Metlifecare up strongly on raised profit forecast

WELLINGTON, May 23 (Reuters) - New Zealand rest home operator Metlifecare Ltd rose to a six month high in early trade on Friday after raising its earnings forecast.

The stock was up 5.7 percent or 24 cents to NZ$4.42, the highest since late November last year, in a softer broad market.

Earlier the company said it expected underlying profit for the year to June 30 of between NZ$43 million-NZ$46 million ($36.9 million-$39.4 million) from a previous NZ$34 million to NZ$38 million forecast. (Gyles Beckford)

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