Friday, 29 March 2024

Announcement

QUARTER: SUM: 3Q16 Metrics - Sales of Occupation Rights

05 Oct 2016 08:30NZX
NZX & ASX RELEASE

5 OCTOBER 2016

3Q16 METRICS - SALES OF OCCUPATION RIGHTS

Summerset Group achieved 196 sales for the quarter ending 30 September 2016,
comprising 125 new sales and 71 resales.

Summerset CEO Julian Cook said total sales for the quarter were the highest
ever achieved across the group.

"Sales in the third quarter were 21% higher than the same period last year.
New sales reached a high for the group with 125 sales achieved across the
last three months.

"The past nine months has seen good growth for Summerset and strong demand
for our offering.  Wigram village''s main building in Christchurch opened in
September, contributing to strong third quarter sales," said Mr Cook.

Resales for the quarter were also strong at 71, resulting in only 21 unsold
resale stock at 30 September.

The first residents at the Ellerslie village in Auckland will move in during
October, Summerset''s 21st retirement village in New Zealand.

YTD16 SALES OF OCCUPATION RIGHTS

See attached table

FY15 SALES OF OCCUPATION RIGHTS

See attached table

NOTES:
o Quarterly metrics on occupation right sales are provided by the 10th of the
month following the end of each quarter.
o 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:
Scott Scoullar
Chief Financial Officer
scott.scoullar@summerset.co.nz
04 894 7320 or 029 894 7317

For media enquiries:
Michelle Brooker
Senior Communications Advisor
michelle.brooker@summerset.co.nz
04 830 1106 or 021 225 9624
End CA:00290279 For:SUM    Type:QUARTER    Time:2016-10-05 08:30:18
Views: 189
Summerset Group Holdings
 5.530 Change:
0.02
0.36%
 
Open:5.550 
High:5.550 
Low:5.550 
Volume:3,700 
Last Traded:07/02/18 09:11:02 
Bid:5.550 
Ask:5.400 
52-Wk High:5.600 
52-Wk Low:4.600