Summerset more than triples FY profit, beats expectations with dividend

Summerset more than triples FY profit, beats expectations with dividend
By Paul McBeth Feb. 25 (BusinessDesk) - Summerset Group, the retirement village operator and developer, more than tripled its net profit, beating the forecast from its 2011 prospectus, and will pay a bigger dividend than what analysts were picking. Net profit climbed to $14.8 million, or 6.96 cents per share, in the 12 months ended Dec. 31, from $4.3 million, or 2.39 cents, a year earlier, the Wellington-based company said in a statement. That was ahead of the company's initial public offering forecast of $14.3 million. Underlying profit,...