They still went into quarantine, didn't they?
It was going to happen no matter the status of the flight.
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3Q21 Sales Metrics - Sales of Occupation Rights - NZX, New Zealand’s Exchange
"The number of sales to date equate to 95% of full year sales in 2020."
SUM sales trend still strong ....especially after passing the inflection point
Bit of a dip in resales but this comes after recent really stellar quarters and still ahead of trend ...... and maybe not too many died last summer
Underlying earnings could be $150m plus on these numbers
4Q21 Metrics - Sales of Occupation Rights - NZX, New Zealand’s Exchange
10 January 2022
4Q21 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 234 sales for the quarter ending 31 December 2021, comprising 121 new sales and 113 resales.
Summerset CEO Scott Scoullar said total sales in 2021 reached 978 up 25% on FY20.
“That’s a new annual sales record for Summerset and comes despite ongoing COVID-19 interruptions. We are seeing good growth in waitlists demonstrating that demand for our offer of retirement living remains robust,” Mr Scoullar said.
Mr Scoullar said Q4 sales were strong, despite the Auckland and Waikato regions being in lockdown for much of the quarter.
“We have had good diversification of sales across the country with new units now being sold at 12 of our villages across New Zealand, and additional villages to start selling in 2022,” Mr Scoullar said.
Uncontracted new stock remains low across the country, particularly for villas.
Approximately 63% of uncontracted new sales stock is made up of the final independent living apartments at Ellerslie in Auckland and serviced apartments around the country.
Serviced apartments are needs based and typically take longer to sell than villas and independent living apartments. Ellerslie’s last apartments – housed in the Heritage building – have been selling well.
Mr Scoullar said the first quarter of 2022 was looking strong with 58% of new deliveries presold.
In 2022, Summerset will start construction at four new sites in Milldale (Auckland), Blenheim (Marlborough), Cambridge (Waikato), and Waikanae (Kapiti Coast), as well as continuing construction at another 13 sites around New Zealand and the building of its first Australian units underway at Cranbourne North (Melbourne).
ENDS
So 978 sales for year pretty good ..... pity it wasn't 1,000 eh
Record year - last 3 years trend looking good - 652 in 2019 and then 785 and 978 this year
Should lead to a record profit - look forward to that
Should see Underlying Profit of $135m/$140m for FY21 -- F20 was $98m
Pretty solid performance in a difficult year I reckon :t_up:
MMH - they say one data point does not make a trend ... but now its already the second quarter dropping.
Just an observation ... does not need to mean anything :):
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