Summerset posts 45% rise in 1H earnings, signals development to increase in second half

Mon, 14 Aug 2017

By Tina Morrison Aug. 15 (BusinessDesk) - Summerset Group, New Zealand's second-largest retirement village developer, posted a 45 percent gain in first-half underlying earnings and reiterated that full-year profit may increase by a third as it ramps up development. Underlying earnings, which excludes property revaluations, increased to $35.7 million in the six months ended June 30, from $24.7 million a year earlier, the Wellington-based company said in a statement. The company reiterated its forecast for annual earnings of $72 million to...

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