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Sales results for the business were pleasing in 2018. Since that time we have seen some slowing of settlements in Auckland and Christchurch. Since the appointment of Fay French as our GM Sales we have been working on a number of improvements to our sales and marketing approach. We have introduced increased training for sales managers, mystery shopping of our own sites to ensure quality control and customer service standards, improved measurement and reporting of inquiry numbers, conversion rates, and key sales statistics.
We have an enhanced incentive structure for sales managers, more responsive marketing, and an increased focus on engaging with local communities. In response to the slowing in settlement times we have put increased focus and emphasis on marketing and sales conversion in the Auckland and Christchurch markets.
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Pierre I'm tossing up whether to reallocate my funds in this sector so my questions are:
a) which of my three companies do you think has the greatest growth potential over the next 5-6 years?
b) in which order would you rank the other two?
c) is there another listed retirement sector business which you think will outperform all three of my companies.
SUM's proven track record of growth is unmatched on the NZX even by the much revered RYM and I also noted therein that RYM's forward PE never went under 12 during the GFC and that SUM's current forward PE is less than that.