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Summerset lifts underlying profit 68%

Jenny Ruth
Tue, 24 Aug 2021

Chief executive Scott Scoullar said Summerset is upping its build rate. (Photo: supplied)
Jenny Ruth
Tue, 24 Aug 2021
Summerset's first-half net profit soared to $263.8 million because the value of its property soared but its underlying profit was also up 68%.The latest result for the six months ended June compared with just $1m in the same six months of last year.The retirement village operator's properties added $260.2m to the latest result compared to a $14.7m write-down the previous year, reflecting the huge uncertainty created by the covid-19 pandemic.The underlying result of $75.5m compared with $45.1m in the year-earlier six months. That was abo...

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400 trainee pilots allowed into NZ
Brent Melville | Sat, 23 Oct 2021

Pilot trainees will make up 40% of the latest cohort of international students allowed in from mid-2022, with an assumption that tight border rules will still be in place.

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Personalised audio at a relatively affordable price point. It's a winning combination.

On the Money
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We have a rare opportunity to align significant public infrastructure investment with urgent climate change reform, but time is short and we all need to act.

Let's not lose sight of the wood for the trees

As much generation will need to be built in the next 14 years as has been built in the last 40+ years for Aotearoa to meet its commitment of achieving net zero emissions by 2050.