SUM - Summerset Group

[winner69]

IMHO, underlying earnings is the only really useful measure of profitability for companies like this.

As a measure of day to day operational activities I agree with you.

From a company valuation point of view I tend to go the full profit way, t difference essentially th unrealised revaluation gains.

After all the Balance Sheet reflects all the valuation gains, be they realised or unrealised. They are included in what the company is worth at a particular point in time (on paper anyway)

[Beagle]

I reckon that including unrealised gains effectively leads to double counts, because they are later included in realised gains, and hence counted more than once...

Spot On NG. Double counting profits is a bridge too far. From a NAV perspective unrealised gains are clearly of relevance in terms of asset backing but PE based on underlying operating profit is where its at for me in terms of valuing these puppies.

[couta1]

Good news on the Ellerslie green light but why no dementia unit? The demand is increasing in hospital and dementia but static or decreasing at Resthome level.

[Beagle]

Good question Couta1.
Once upon a time an announcement like this would have sent the SP racing north...but barely a whimper. Gives quite an insight into how the institutions view the company's approach to lack of forward guidance IMHO.
Mr market is saying the half year results due on Tuesday next week will disappoint.

[percy]

Well I am very pleased with it.
Good location.

[couta1]

Well I am very pleased with it.
Good location.

I'm pleased to but why not move with the times dementia is the fastest growth area along with hospital level care and ALL Rymans facilities have dementia units bar a few of the older ones so a market disadvantage IMHO

[percy]

I'm pleased to but why not move with the times dementia is the fastest growth area along with hospital level care and ALL Rymans facilities have dementia units bar a few of the older ones so a market disadvantage IMHO

I am sure if you ring Scott Scollar on [04] 894 7317 or 0298947317 he will tell you why,then you may be kind enough to share with us.

[couta1]

I am sure if you ring Scott Scollar on [04] 894 7317 or 0298947317 he will tell you why,then you may be kind enough to share with us.

Will do when he gets back to me.

[Beagle]

If I remember correctly, didn't they say at the AGM words to the effect that they were designing late stage care facilities (hospital / rest home / dementia), that were more or less multi-purpose in their design ? Someone please refresh my memory...

[couta1]

If I remember correctly, didn't they say at the AGM words to the effect that they were designing late stage care facilities (hospital / rest home / dementia), that were more or less multi-purpose in their design ? Someone please refresh my memory...

They talked about swing beds for hospital use but dementia units require specific design in terms of security and layout not to mention specific staff training for dementia level care so my question is why have it as a afterthought when its the fastest growing level of care and all your competition (Including Oceania) are offering special purpose built units?