SUM
06/10/2014 08:41
QUARTER
REL: 0841 HRS Summerset Group Holdings Limited
QUARTER: SUM: 3Q14 Metrics - Sales of Occupation Rights
NZX & ASX RELEASE
6 OCTOBER 2014
3Q14 METRICS - SALES OF OCCUPATION RIGHTS
Metrics for the sales of occupation rights for the third quarter of 2014 are
provided below.
The Group achieved 99 sales for the quarter ending 30 September 2014,
composed of 68 new sales and 31 resales.
The 68 new sales represent the highest quarter of new sales in the company's
history. This was a result of strong sales across all new villages as well as
first residents arriving in our recently opened Karaka and Hobsonville
villages. Further new sale settlements in the New Plymouth and Trentham
villages are expected in the fourth quarter. Summerset CEO Julian Cook said,
"We are pleased with the rate of new sales and progress on our developing
villages."
Resales for the quarter reduced due to low numbers of stock becoming
available. Unsold resales stock has further reduced from 32 retirement units
at 30 June 2014 to 27 retirement units as at the end of the third quarter.
Summerset remains on track for a build of 250 retirement units in 2014.
YTD14 SALES OF OCCUPATION RIGHTS
See attached table
FY13 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
[email protected]
04 894 7317 or 029 894 7317
Kimberley Rothwell
Communications Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00256098 For:SUM Type:QUARTER Time:2014-10-06 08:41:51
