Summerset Group Holdings Limited ( (DE:20S) ) has provided an update.
Summerset Group Holdings Limited announced a record full-year underlying profit of NZ$206.4 million for 2024, reflecting an 8% increase from the previous year, despite challenges such as inflation and a subdued property market. The company achieved its highest sales with 1,238 occupation rights agreements and expanded its portfolio with new sites and land extensions. Summerset’s strategic focus on regional diversity and broadacre builds contributed to its strong performance, with significant projects like the St Johns village in Auckland opening on time and on budget. The company’s development margin decreased slightly due to a change in sales mix, but resident satisfaction remained high, and staff retention improved.
More about Summerset Group Holdings Limited
Summerset Group Holdings Limited is a retirement village operator that provides retirement living and care services in New Zealand and Australia. The company focuses on developing and managing retirement villages and care facilities, offering a range of living options and services to its residents.
YTD Price Performance: -10.64%
Average Trading Volume: 808
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €1.54B
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