22 Aug 2012

Summerset profit rises on demand

12:15 pm on 22 August 2012

Strong demand for retirement units has helped the village operator Summerset Group to boost its underlying profit.

The company has posted a half-year profit of $3.7 million, up from a $1 million loss in the first half of last year.

Underlying profit more than doubled to $6.9 million while revenue rose 13% to $18.2 million.

Chief executive Norah Barlow says the demand for retirement units remains bullish.