New sales F19 were 329
Still quite a long way off the peak of 382 (rolling 4 quarter) of March 2017
Q$19 was first quarter for some time when new sales were ahead of pcp - thats good. the rot has stopped
but heck - lets worry about the future
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New sales F19 were 329
Still quite a long way off the peak of 382 (rolling 4 quarter) of March 2017
Q$19 was first quarter for some time when new sales were ahead of pcp - thats good. the rot has stopped
but heck - lets worry about the future
For most of 2019 the real estate market in Auckland was quite subdued. Things are very different now.
I attended the annual meeting in April. If I hadn't of asked the question as to the 2019 build program nobody would have known.
Julian advised they planned to build about 350 new homes for 2019. Yet again they have done what they said they would do and slightly beaten that
"Summerset's 2019 build programme delivered 354 retirement units".
I've lost count of how many years now they have accurately predicted the number of new units they will build for the year and slightly beaten it.
My point is this is a company that can be trusted to do what it ways its going to do. They make results, not excuses.
Yet again, we will see strong growth in underlying profit for the year just finished and strong growth going forward and yet this company continues to trade at well below the market average PE. Go figure...
They make results, not excuses...
"Previously, Summerset has said it wanted to increase its build rate to 600 units a year. Chief executive Julian Cook said the company will probably build only about 350 this year as the company tailors its building programme to meet demand."
... shifting goal posts at its best, certainly sounds like an excuse to me;)
https://www.nzherald.co.nz/business/...ectid=12226636
But hey, forget the facts, SUM share price riding high so lets all enjoy it
“They make results, not excuses”
Like that phrase
Talking about delivering new units
2017 delivered 450 sold 382
2018 delivered 454 sold 339
2019 delivered 354 sold 329
Hope the development team isn’t getting paid heaps more to deliver less.
One thing I like about Summerset performance is they can make heaps more profit by selling more or less the same number of units compared to Oceania who seem to sell heaps more units but make stuff all more profit
Nice, 2020 shaping up very well!
T.J. He said he would ramp up the build rate over the next few years to 600 units per annum, try not to let your own viewpoint colour what was actually said.
I believe we will see the build rate materially increase in 2020 compared to 2019.
Assuming $117m underlying profit this year and conservatively just another 20% growth for 2020 I have them on a preliminary estimate of $142m underlying for 2020, (and I do think that's quite conservative), for a forward PE of just 13.9. Market median PE is about 19 and market average about 30 and yet SUM is the preeminent growth stock on the NZX.
Great long term hold.
Ahh yes but look at Oceanias potential plus dividend yield. Plus the 20% I'm up. With a possible good result to come.
You are comparing a promising Filly with a somewhat chequered track record with a proven well proven Thoroughbred. When you're looking at competing in the grand national steeplechase (an endurance race anyone that doesn't know), which horse would you rather be on ?