Announcement
MKTUPDTE: SUM: 1Q20 Metrics - Sales of Occupation Rights
08:31am
SUM
09/04/2020 08:31
MKTUPDTE
PRICE SENSITIVE
REL: 0831 HRS Summerset Group Holdings Limited
MKTUPDTE: SUM: 1Q20 Metrics - Sales of Occupation Rights
NZX & ASX RELEASE
9 April 2020
1Q20 METRICS - SALES OF OCCUPATION RIGHTS
Summerset Group reports 141 sales for the quarter ending 31 March 2020,
comprising 70 new sales and 71 resales.
Summerset CEO Julian Cook said, "We have maintained our sales for the first
quarter at normal levels and have a good pipeline of sales. It is still too
early to tell the impact of COVID-19 on our next quarter."
Summerset's first quarter included one week of the Level 4 Alert lockdown
period.
"Our first quarter was buoyed by good pre-sales at Kenepuru (Wellington) and
40% of available units were sold at our new Te Awa village (Napier) in the
first week of release," Mr Cook said.
Mr Cook added the company was pleased with the contracted stock pipeline.
As of 31 March, Summerset has a further 98 new sales contracts in place (20
more than at 31 December 2019) and 73 resales contracts in place (19 more
than at 31 December 2019).
As noted previously, Summerset continues to ensure it has strong financial
management disciplines in place with close to $400m of unutilised funding
capacity available.
For more details on Summerset's COVID-19 response please visit the website
summerset.co.nz/about-us/covid-19/
YTD20 SALES OF OCCUPATION RIGHTS
See attached table.
FY19 SALES OF OCCUPATION RIGHTS
See attached table.
ENDS
For investor relations enquiries:
Scott Scoullar
Chief Financial Officer & Deputy CEO
scott.scoullar@summerset.co.nz
029 894 7317
For media enquiries:
Jenny Bridgen
Communications Manager
jenny.bridgen@summerset.co.nz
021 408 215
End CA:00351509 For:SUM Type:MKTUPDTE Time:2020-04-09 08:31:15
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