Summerset : 4Q16 Metrics - Sales of Occupation Rights
January 16, 2017 at 09:46 pm EST
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Summerset Group Holdings Limited
Level 20, Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz
NZX & ASX RELEASE 9 JANUARY 2017
4Q16 METRICS - SALES OF OCCUPATION RIGHTS
Summerset Group achieved 156 sales for the quarter ending 31 December 2016, comprising 106 new sales and 50 resales.
This brings the full year sales result for 2016 to 658 occupation right sales, up 14% on the prior year.
Summerset CEO Julian Cook said total sales for the year were the highest ever achieved across the group.
"New sales for 2016 were 24% higher than the prior year which is a very pleasing result. This reflects the uplift in build rate from 300 retirement units in 2015 to just over 400 retirement units in 2016.
"We continue to see strong demand across our villages for both new sale and resale stock. A key driver of our strong results for the year is the current continuing development across ten villages," said Mr Cook.
Resale stock continues to be low, with only 29 unsold resale stock at 31 December 2016.
FY16 SALES OF OCCUPATION RIGHTS
1Q16
Actual
2Q16
Actual
3Q16
Actual
4Q16
Actual
FY16
Actual
New sales
75
108
125
106
414
Resales
46
77
71
50
244
Total
121
185
196
156
658
FY15 SALES OF OCCUPATION RIGHTS
1Q15
Actual
2Q15
Actual
3Q15
Actual
4Q15
Actual
FY15
Actual
New sales
78
82
83
90
333
Resales
47
63
79
56
245
Total
125
145
162
146
578
NOTES:
Quarterly metrics on occupation right sales are provided by the 10th of the month following the end of each quarter.
The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the corresponding period. In particular, key items in the income statement, such as the fair value movement of investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS financial performance is calculated for the periods ending 30 June and 31 December each year.
ENDS
For investor relations enquiries: For media enquiries:
04 894 7320 or 029 894 7317 04 830 1106 or 021 225 9624
ABOUT SUMMERSET
Summerset is one of the leading operators and developers of retirement villages in New Zealand, with 21 villages across the country. In addition, Summerset has six sites for development in Richmond, Rototuna, Casebrook, Lower Hutt, St Johns and Parnell, bringing the total number of sites to 27.
It provides a range of living options and care services to more than 4,200 residents.
Four-time winner of Retirement Village of the Year and Silver Award winner in the Reader's Digest Quality Service Awards 2016.
The Summerset Group has villages in Aotea, Dunedin, Ellerslie, Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Levin, Manukau, Napier, Nelson, New Plymouth, Palmerston North, Paraparaumu, Taupo, Trentham, Wanganui, Warkworth and Wigram.
Summerset Group Holdings Limited published this content on 09 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 January 2017 02:45:05 UTC.
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Summerset Group Holdings Limited is a New Zealand-based company that develops, owns and operates integrated retirement villages. The Company is engaged in the design, construction and operation of retirement villages and care centers. It provides a range of living options and care services to more than 7,400 residents. It offers a choice of independent living options, including villas, townhouses and serviced apartments. It offers various facilities in its village, such as recreational bowling green, barbecue facilities, cafe, communal vegetable gardens, courtesy van, exercise room, hair salon, library, organized outings and activities, piano, pool table, residents' bar, residents' workshop, swimming pool and spa. It has approximately 38 villages completed or in development in Aotea, Avonhead, Bell Block, Blenheim, Cambridge, Casebrook, Cranbourne North, Dunedin, Ellerslie and others. Its portfolio covers over 6,679 total units, including 5,518 retirement units and 1,161 care units.
SUMMERSET GROUP HOLDINGS LIMITED 
