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- Release Date: 10/01/13 10:35
- Summary: QUARTER: SUM: 4Q12 Metrics - Sales of Occupation Rights
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SUM
10/01/2013 08:35
QUARTER
REL: 0835 HRS Summerset Group Holdings Limited
QUARTER: SUM: 4Q12 Metrics - Sales of Occupation Rights
10 JANUARY 2013
4Q12 METRICS - SALES OF OCCUPATION RIGHTS
The directors of Summerset Group Holdings Limited announce that the group has
achieved a 55% increase in new sales of occupation rights and a 33% increase
in resales of occupation rights for the year ending 31 December 2012.
This represents a 43% increase in total sales on the corresponding period
ending December 2011.
The group reached 167 new sales of occupation rights and 164 resales of
occupation rights for the 2012 year, a total of 331 sales across the period.
This also compares to the IPO forecast for the full year to 31 December 2012
of 134 new sales of occupation rights and 124 resales of occupation rights.
Managing Director and CEO Norah Barlow said gross sales for the year were
more than $100 million. This was the first time the company had achieved this
figure, which has doubled since 2010.
"Summerset has been operating retirement villages for more than 15 years. We
are experienced operators and are constantly improving. Our sales reflect
this.
"Summerset is continuing its strong growth. This week we opened our 15th
village - Summerset at Bishopscourt, Dunedin. We expect to be making further
purchase and construction announcements through 2013."
FY12 Sales of Occupation Rights
See attached table
FY11 Sales of Occupation Rights
See attached table
Quarterly metrics on occupation right sales are provided by the 10th of the
month following the end of each quarter.
Please note that 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.
ENDS
For investor relations enquiries:
Julian Cook
Chief Financial Officer
[email protected]
04 894 7310 or 029 894 7310
For media enquiries:
Harriet Palmer
Communications Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00231921 For:SUM Type:QUARTER Time:2013-01-10 08:35:10
