Summerset announces record sales results

Company News

by David Chau

Summerset Group Holdings Ltd (ASX:SNZ) says it has experienced its highest number of quarterly sales in the company’s history.

Summerset operates and develops retirement villages in New Zealand, and currently has 21 villages across the country.

The company says, in the second quarter of 2016, it made 185 sales. This is a 28% increase over the same period last year, where the company made 145 sales.

In the first half of 2016, Summerset made a total of 306 sales. The company expects strong sales will continue as the first stage of its Ellerslie retirement village will open in Auckland in September.

Summerset reported a net profit of $79 million at 31 December 2015.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?