Summerset reports growth, addresses challenges, and outlines future strategy

Summerset Group Holdings (NZX:SUM) reported on its performance at its annual general meeting. Chairman Mark Verbiest acknowledged a challenging macroeconomic environment, but highlighted a 13% increase in net tangible assets to NZD 12.53 per share and a dividend return of 24.5 cents per share. CEO Scott Scoullar noted a rise in underlying profit to NZD 206.4 million and operating cash flows increased by 11% to NZD 443.2 million. The value of investment property rose to NZD 7.3 billion, a 14% increase on 2023.