Sharechat Logo

Summerset occupation rights sales grow 19 percent in 3Q

Thursday 10th October 2013

Text too small?

Summerset Group, the retirement village operator and developer whose managing director is stepping down next year, boosted sales of occupation rights 19 percent in the third quarter.

The Wellington-based company lifted total sales of occupation rights to 102 in the three months ended Sept. 30 from 86 in the same period a year earlier, it said in a statement. Of that, 52 were new sales, and 50 were resales, compared to 41 and 45 respectively in the third quarter of 2012.

That takes total occupation rights sales to 291 in the year to date, compared to 257 in 2012.

Summerset built 102 new retirement units in the first half of the year, and said it was on track to compete at least 200 by the end of the year at its August results announcement. It is targeting an annual build rate of 300 units per year by 2015.

The shares rose 0.7 percent to $3.06 in trading yesterday, and have climbed 37 percent this year, outpacing the 12 percent gain on the NZX All Index, a capital index of all domestic equities on the local bourse, over the same period.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Shares in Summerset Group halted as Quadrant Private Equity sells its stake
Summerset 1H profit almost triples as it sold more rights and land value doubled, shares gain
Summerset plans to list in Australia after investor demand in larger market
Summerset shareholder Quadrant promises exit will be 'orderly'
Summerset on track to meet 2013 build target, Barlow tells annual meeting
Summerset presses ahead with $100M Lower Hutt site
Summerset Group 1st-qtr occupation right sales rise 20 percent vs. 4th-qtr
Quadrant completes sale of 18.6 percent of Summerset Group, trading halt lifted
Quadrant cedes control of Summerset in selldown via UBS NZ; stock halted
Summerset more than triples FY profit, beats expectations with dividend