Patience required 2014 will be Sums year.
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Patience required 2014 will be Sums year.
Announcement just made about the two awards collected, great work. Did anyone know she was set to retire next year? Sounds like things will continue to get better with her sitting on the board after her stint in the CEO chair.
Here's a copy of the announcement
Quote:
REL: 1132 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset CEO Norah Barlow Collects Two Awards
NZX, ASX AND MEDIA RELEASE
18 NOVEMBER 2013
SUMMERSET CEO NORAH BARLOW COLLECTS TWO AWARDS
Summerset CEO Norah has won two significant awards in the last week. The
first was for Most Outstanding Contributor to Over 50s Housing 2013 presented
at an awards ceremony in London on Thursday night. The other was
Wellingtonian of the Year in the business category.
The two awards top a busy period not just for Mrs Barlow, but for Summerset,
which was named Best Retirement Village Operator in Australasia for the
fourth year running, received the green light to build a NZ$120 million
waterfront retirement village in Hobsonville, Auckland, and started work on a
NZ$70 million retirement village in Karaka, Auckland in the last few weeks.
Mrs Barlow also received two awards at the Women in Governance Awards in
July.
Mrs Barlow received her international award in London at the Over 50s Housing
Awards.
Awards convenor Ann Richards said, "Mrs Barlow has been exceptional in her
field, not just in growing the business, but in growing it sustainably and
keeping the residents' needs at heart. She's always thinking about how to be
innovative and creative, not just in 2013, but throughout her time leading
Summerset."
Of her two awards Mrs Barlow said, "I'm humbled and honoured to receive these
awards. They really belong to the people who make Summerset what it is - the
staff and residents. I'm fortunate to be CEO of Summerset."
Summerset Board Chairman Rob Campbell said these awards were recognition for
the remarkable contribution Mrs Barlow has made to the sector and to the
lives of Summerset's residents.
"Norah has been, and continues to be, an outstanding CEO and these awards
acknowledge that. She has built Summerset from a small family business into
an NZX50 company, growing the business sustainably. She's given the business
a solid foundation from which to grow further. What she has accomplished is
phenomenal."
Mrs Barlow is to retire in April next year, but will stay on Summerset's
Board. Current Summerset Chief Financial Officer Julian Cook has been
appointed to replace her.
ENDS
For investor relations enquiries:
Julian Cook
Chief Financial Officer
julian.cook@summerset.co.nz
04 894 7310 or 029 894 7310
For media enquiries:
Kimberley Rothwell
Communications Advisor
kimberley.rothwell@summerset.co.nz
04 894 6993 or 027 601 2001
End CA:00243931 For:SUM Type:GENERAL Time:2013-11-18 11:32:35
They have also sought consent for their Ellerslie property. Hopefully this goes through quickly unlike the Hobsonville one.
http://www.propbd.co.nz/summerset-se...slie-village/?
Still a very interesting lack of reporting on these wins.
Two theories, the one where there's a smash session coming against the entire retirement community, or, as an insider has suggested - the reporting agencies have lost pretty much all their depth of talent and are struggling with younger business reporters who don't quite have all of market reporting under control...
It'll be interesting to see if this beat-up does come out.
FWIW, Macquaries rate SUM an "Outperform" with a valuation of $4.15 and a 12 month target of $4.50.