Summerset expects annual earnings to rise as much as 46%

Thu, 27 Oct 2016

By Paul McBeth Oct. 28 (BusinessDesk) - Summerset Group says earnings will rise by as much as 46 percent this year as the retirement village company benefits from strong sales in a nation with an ageing population. The Wellington-based company anticipates underlying profit of between $53 million and $55 million in calendar 2016, up from $37.8 million a year earlier, it said in a statement. It didn't give guidance on net profit, saying there was too much uncertainty in the fair value of its investment properties. "Occupation right sal...

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