Summerset lifts annual earnings guidance as sales jump 64% in third quarter

Tue, 06 Oct 2015

By Paul McBeth Oct. 7 (BusinessDesk) - Summerset Group, the retirement village developer and operator, raised annual earnings guidance after sales climbed 64 percent in the third quarter and in anticipation of increased activity in the final three months of the year, when residents move into its new Wigram village. The Wellington-based company expects underlying profit of between $36 million and $39 million in calendar 2015, up from a previous range of between $32 million and $34 million and more than the $24.4 million reported in 2014. T...

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