The business, with $3.4b of assets, made underlying profit of $45.1m for the first half of 2020. On August 12, Summerset closed all five Auckland retirement villages, banning visitors, conducting staff temperature testing and making staff face masks mandatory. It expected underlying profit for the six months to June 30 to be between $40m and $45m. "Relative to 1H19 underlying profit, this guidance is between 6 per cent and 16 per cent lower," it said back then. The business said all its Auckland retirement villages and care centres are closed and will remain so until further notice.

Source: Otago Daily Times August 16, 2020 21:45 UTC