UPDATE: Summerset posts 10% rise in 2014 earnings, expects faster growth in 2015

Mon, 23 Feb 2015

(Adds CEO comment starting in fourth paragraph, updates shares) By Tina Morrison Feb. 24 (BusinessDesk) - Summerset Group, New Zealand's third-largest listed retirement village operator, posted a 10 percent gain in annual earnings and said it expects benefits from last year's expansion to help lift earnings growth this year. The Wellington-based company said underlying earnings, which exclude unrealised property valuation gains, increased to $24.4 million in calendar 2014, from $22.2 million in 2013. Summerset expects earnings growt...

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