Summerset lifts earnings 55% in 2015; plans to double size in six years

Tue, 23 Feb 2016

By Paul McBeth Feb. 24 (BusinessDesk) - Summerset Group lifted annual underlying earnings 55 percent in 2015 as the country's third-biggest retirement village operator by market value generated more sales after opening new sites and said it wants to double its national footprint over the next six years. Underlying profit, which strips out unrealised movements in the value of its property portfolio, rose to $37.8 million in calendar 2015 from $24.4 million a year earlier, the Wellington-based company said in a statement. The result was wi...

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