Summerset Reduces its 1HFY20 Guidance

  • Jul 09, 2020 NZST
  • Team Kalkine
Summerset Reduces its 1HFY20 Guidance

Summerset Group Holdings Limited (NZX:SUM) is expecting its underlying profit for the six months ended 30 June 2020 to be between NZ$40 million and NZ$45 million. As compared to 1HFY19, the underlying profit expectation is between 6 per cent and 16 per cent lower, reflecting the substantial impacts of COVID-19.

As per the CEO of the company, Julian Cook, the company is on track to achieve its revised year-end build goal of 300 to 350 new retirement units, down from 400 before the COVID-19 pandemic.


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