Retirement village operator, Summerset, has reported a record full-year underlying profit of $190.3 million for the year ending Dec 31 2023, up 11% from the previous year.
The company also saw a significant increase in net profit after tax, which reached $436.3m, a 62.1% rise from the previous year.
Summerset's total assets rose to $6.9 billion, representing an 18.9% increase.
The company acquired two new sites in New Zealand and achieved a 10% growth in the total sales of occupation rights, reaching 1,103 sales.
It delivered 643 new homes under occupation right agreements.
Summerset's land bank now includes 5,571 retirement homes and 1,338 care homes across New Zealand and Australia.
The company declared a final dividend of 13.2 cents per share.
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