NZ market focused on aged-care stocks

The S&P/NZX 50 Index rose 17.3 points, or 0.15%, to 11,905.75. Turnover was $160 million.

Hamilton Hindin Greene investment adviser Jeremy Sullivan said Summerset was a “very solid” result and showed there was plenty going on within the aged-care sector.

“Some good development margins and figures and the stock has performed well today,” he told BusinessDesk.

The retirement village operator today reported an underlying profit rose to $171.4m from $141.1m in 2021. Summerset shares were up 3.1% at $9.70.