Summerset says 2017 underlying earnings may rise as much as 33% on new sales to baby boomers

Tue, 27 Jun 2017

By Jonathan Underhill June 28 (BusinessDesk) - Summerset Group, the best-performing retirement village stock in the past 12 months, said 2017 underlying earnings may rise as much as 33 percent, driven by new sales of occupation rights to its units. "We are continuing to see strong development margins from new sales of occupation rights, a key driver of the underlying profit forecast," the Wellington-based company said in a statement. Underlying earnings, which exclude property revaluations, are forecast at $72 million to $75 million in c...

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