SUM
07/10/2015 08:31
FORECAST
PRICE SENSITIVE
REL: 0831 HRS Summerset Group Holdings Limited
FORECAST: SUM: Summerset Revises Earnings Guidance Upwards for 2015
NZX & ASX RELEASE
7 OCTOBER 2015
SUMMERSET REVISES EARNINGS GUIDANCE UPWARDS FOR 2015
Summerset Group has revised its earnings guidance, with underlying profit for
the year ended 31 December 2015 now forecast to be in the range of NZ$36
million to NZ$39 million.
This is an increase on the previous guidance given of NZ$32 million to $NZ34
million.
Summerset has revised its earnings guidance following stronger than expected
third quarter sales of occupation rights, as well as considering projected
sales for the fourth quarter.
No forecast has been provided for NZ IFRS net profit after tax due to the
inherent uncertainty in fair value movement of investment property, a key
component of this profit measure.
Underlying profit differs from NZ IFRS net profit after tax. The directors
provide an underlying profit measure to assist investors in determining the
realised and non-realised components of fair value movement of investment
property and tax expense in the Group's income statements. Underlying profit
is an industry-wide measure which the Group uses consistently from period to
period.
ENDS
For investor relations enquiries:
Scott Scoullar
[email protected]
04 894 7320 or 029 894 7317
For media enquiries:
Jen Murray
Senior Communications and Marketing Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00271378 For:SUM Type:FORECAST Time:2015-10-07 08:31:16
