Summerset lifts first-half earnings 44%, beating estimates, on record 2nd-quarter sales

Sun, 14 Aug 2016

By Paul McBeth Aug. 15 (BusinessDesk) - Summerset Group, the retirement village operator and developer, lifted first-half earnings 44 percent, beating expectations, and will pay a larger dividend than anticipated after enjoying a record second quarter of unit sales. Underlying earnings, which strip out unrealised movements in the value of its property portfolio, rose to $24.7 million in the six months ended June 30 from $17.1 million a year earlier, the Wellington-based company said in a statement. That was ahead of Forsyth Barr analyst J...

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