SUM
07/10/2015 08:30
QUARTER
PRICE SENSITIVE
REL: 0830 HRS Summerset Group Holdings Limited
QUARTER: SUM: 3Q15 Metrics - Sales of Occupation Rights
NZX & ASX RELEASE
7 OCTOBER 2015
3Q15 METRICS - SALES OF OCCUPATION RIGHTS
Summerset Group achieved 162 sales for the quarter ending 30 September 2015,
comprising 83 new sales and 79 resales.
The results are in line with the highest level of sales in a quarter for the
Group, achieved in the final quarter of 2014, and are 64% higher than the
same quarter last year.
The 79 resales in the quarter was the highest the Group has ever seen, and
155% higher than the same period last year, noting the inherent volatility
that can be seen in occupation right resales.
Summerset CEO Julian Cook said, "We have seen good activity for both new
sales and resales of occupation rights over the third quarter of 2015. These
were driven by a continued steady sell down across developing sites as well
as higher levels of resale stock available for sale. Unsold resales stock
remains low at 37 retirement units at 30 September."
"The 432 sales in the first nine months of this year are nearing the level of
sales achieved for the full 12 months of 2014 of 458 sales, and we are seeing
good demand for our offering across the country."
"Our new Wigram village in Christchurch saw its first residents move in
during September, and settlements at this village will contribute to new
sales in the fourth quarter."
YTD15 SALES OF OCCUPATION RIGHTS
See attached table
FY14 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 7320 or 029 894 7317
For media enquiries:
Jen Murray
Senior Communications and Marketing Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00271359 For:SUM Type:QUARTER Time:2015-10-07 08:30:06
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