SUM - Summerset Group

[couta1]

382 new sales for year, that looks like a falling short of target to me, resales strong, propping things up. Long term no worries though.

[winner69]

Record new sales for a quarter

But 382 new unit sales is a long way off the 450 ‘promised’ and is even less than the 414 in 2016

Resale’s were up ..that’s good

Just as well we have had a booming property market else the huge increase in profits would not have happened.

The property market you read about in the media is a different beast than the property market in reality.

One would have to say that the sales numbers for the year are rather underwhelming

[JeremyALD]

382 new sales for year, that looks like a falling short of target to me, resales strong, propping things up. Long term no worries though.

Very odd announcement. They didn't even acknowledge they fell well short of their target, or give any sort of explanation? I had to open the attachment to even see the total number for the year.

First time I've been disappointed in SUM for a while. Hmm.

[winner69]

Very odd announcement. They didn't even acknowledge they fell well short of their target, or give any sort of explanation? I had to open the attachment to even see the total number for the year.

First time I've been disappointed in SUM for a while. Hmm.

Did skite about a record quarter (t_j will pick up on that)

Yep ...not there usual openness

Being less than last year ...hmm ...see Metro Glass has a point about industry capacity

[LAC]

Q3 release was.....
"Summerset CEO Julian Cook said “We are continuing to see good sales and steady settlements across our villages throughout New Zealand, including Auckland. The group is on track to deliver 450 retirement units for the year. A large number of retirement unit deliveries have been late in the third quarter which will reflect in settlement volumes in the fourth quarter”."

And now 382.....I will be emailing for a better response than that. Overall result was good but we still need an explanation on the low number delivered.

[couta1]

Very odd announcement. They didn't even acknowledge they fell well short of their target, or give any sort of explanation? I had to open the attachment to even see the total number for the year.

First time I've been disappointed in SUM for a while. Hmm.

Sugar coated announcement, will the market be fooled by the highest quarter sales spin?

[winner69]

Glass half full view is that we have 68 new sales in the bag for 2018

That’s a boomer of a start to the year

[JeremyALD]

They also had a profit upgrade on 19 December which made it sound like all guns were blazing. They were almost 20% off their year target. Considering they updated us in Q3 they were on track, Q4 sales must of fallen like 45% short of their expectation. That certainly warrants some commentary.

[winner69]

So guidance / expectations was 174 new sales in Q4

Delivered 106

That’s good forecasting .....about as good as Comvita’s efforts

Will ever taking future guidance with a grain of salt ...... hope the market doesn’t see it this way as well

Ne

[JeremyALD]

So guidance / expectations was 174 new sales in Q4

Delivered 106

That’s good forecasting .....about as good as Comvita’s efforts

Will ever taking future guidance with a grain of salt ...... hope the market doesn’t see it this way as well

Ne

Back down to $5 we go? Thought it was finally going to break out of that trend, but seems not lol.