NZ's Summerset H1 net profit surges

WELLINGTON Mon Aug 11, 2014 4:36pm EDT

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WELLINGTON Aug 12 (Reuters) - New Zealand retirement village operator Summerset Group Ltd first half profit rose 42 percent on growing sales, the company reported on Tuesday.

Net profit after tax for the six months to June 30 was NZ$15.3 million ($12.9 million) compared with NZ$10.8 million a year ago.

The company declared a dividend of 1.4 cents a share. Last year it did not pay an interim dividend.

It has 23 retirement villages in operation or under development.

($1=NZ$1.1820)

(Gyles Beckford)

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