Vancouver-based retirement home operator Amica Mature Lifestyles Inc. (TSX:ACC) reported a 11% jump in revenue for the year ending May 31, 2007.
The increase to $42.6 million from $38.3 million in 2006 was generated by revenue from the company's retirement communities and its ancillary services. Net earnings for the year rose to $3.3 million from $2.3 million.
For 2008, the company plans to expand into new markets, including Seattle, Portland, Chicago, Calgary and Edmonton. The company currently has 25 communities in Canada, eight in B.C. and the remainder in Ontario.
Amica's share price range during the past week: between $10.95 and $10.99; 52-week high: $13.70; 52-week low: $6.90.