Friday 14th February 2014 |
Text too small? |
Summerset Group Holdings, whose shares have made more than twice the NZX 50 Index's gains in the past 12 months, said it gained resource consent to build a $55 million retirement village in New Plymouth.
The Wellington-based company plans to build about 150 units on the 4 hectare Carrington Road site ranging from townhouses and villas to care apartments and rooms. It acquired the site last August.
Shares of Summerset rose 1.5 percent to $3.34 and have gained 35 percent in the past 12 months, while the NZX 50 rose 15 percent. The stock is rated a 'hold' based on the consensus of five analysts polled by Reuters, with a media price target of $3.55.
The company is scheduled to release its full-year earnings on Feb. 25 and is expected to post a 68 percent gain in profit, according to brokerage First NZ Capital.
BusinessDesk.co.nz
No comments yet
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report
Devon Funds Morning Note - 30 April 2024
New Rural Advocacy Hub to be launched at Fieldays 2024
Serko signs five-year partnership renewal with Booking.com
NPH - 2024 Half Year Results Announcement Date