Summerset announces strong results

Company News

by David Chau

Retirement village operator, Summerset Group Holdings Ltd (ASX:SNZ), says it has earned a record half year profit.

The following figures are in New Zealand Dollars.

Summerset’s net profit after tax was $50.6 million (up 42% compared to the first half of 2015).

The company declared an interim dividend of 2.6 cents per share, which will be paid on 9 September.

The company says its results were driven by an increase in sales and the number of homes delivered.

At the end of the first half of this year, Summerset’s total land bank was around 2,818 retirement homes and 485 care beds.

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