Summerset annual earnings may rise as much as 39% as sales surge

Mon, 06 Jul 2015

By Tina Morrison July 7 (BusinessDesk) - Summerset Group, New Zealand's third-largest listed retirement village operator, expects annual earnings may rise as much as 39 percent as it benefits from record sales of units. The Wellington-based company expects underlying profit of between $32 million to $34 million in the year ending Dec. 31, from $24.4 million last year, it said in a statement. Sales of occupation rights jumped 38 percent to a record 270 in the first half of the financial year, compared with the same period a year earlier, i...

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