Company results so far: Positive signs as Covid recovery kicks in

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(The Nzherald)

Retirement village owner-operator Summerset Group pushed up its bottom line profit 32 per cent but underlying profit fell 7 per cent when the company spent more during the pandemic.

Net profit after tax, which includes unrealised property revaluations, rose 32 per cent to $230.8 million for the year to December 31 but full-year underlying profit was $98.3m. The net uplift was driven by major revaluation rises of $221.1m.

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