Summerset Reports Profit Growth and Expansion

Summerset Group Holdings Limited (DE:20S) has released an update.

Summerset Group Holdings Limited reported a modest growth with a 3% increase in underlying profit for the first half of 2024, reaching NZ$89.9 million, despite challenging macroeconomic conditions. The retirement village operator not only delivered the highest first-half sales on record but also expanded its land bank with a new site in Napier, positioning itself for further growth. Additionally, the company has marked progress in its Australian expansion, while expressing concerns over the underfunding of New Zealand’s aged care sector.

For further insights into DE:20S stock, check out TipRanks’ Stock Analysis page.