SUM - Summerset Group

[JeremyALD]

Bugger I put an order in yesterday at 4.47pm and just missed out on a buy before end of trade! Will see where it's at this morning. Might still jump in.

I also noticed Auckland house prices have only gone down .3% in the last three months and the country is up overall. No worries there for now at least.

[Beagle]

Bugger I put an order in yesterday at 4.47pm and just missed out on a buy before end of trade! Will see where it's at this morning. Might still jump in.

I also noticed Auckland house prices have only gone down .3% in the last three months and the country is up overall. No worries there for now at least.

Thanks, got a link mate ?

[iceman]

Thanks, got a link mate ?

I suspect this is what he was referring to Roger http://www.nzherald.co.nz/business/n...ectid=11831571

Great numbers out today from SUM. Look forward to a catch up at the AGM

[couta1]

That's a great result considering that Q1 sales have been slower historically, stating that sales will be slanted toward the second half of the year sounds like a bullish signal to me.

[Food4Thought]

That's a great result considering that Q1 sales have been slower historically, stating that sales will be slanted toward the second half of the year sounds like a bullish signal to me.

Exciting for sure. I am optimistic there will be a new high soon (within 3 months) and I'm not surprised. I was wondering what happens with all those wiser people who have houses in prominent locations selling up or down sizing as they get wiser. More of them on a daily basis start to approach the need for care and aged care. I do wonder about this with my parents, how ever that is hopefully some time away yet for them, and SUM shares are one of the precautions I have taken to make that transition possible.

On to other matters - Great day
Hope all those affected by Debbie are keeping their heads above water.

[Beagle]

I suspect this is what he was referring to Roger http://www.nzherald.co.nz/business/n...ectid=11831571

Great numbers out today from SUM. Look forward to a catch up at the AGM

Thanks mate. Me too

Just by way of anecdotal evidence I was looking at my 31 March 2014 balance sheet the other day and noted these in there at balance date at $3.48 at the time. Since then they have grown earnings, 10%, 55% and 50% for the three years so if they were trading on the same PE as at 31 March 2014 the stock would presently be $3.48 x 1.1 x 1.55 x 1.5 = $8.90 !

These are a superb long term buy at the current price in my opinion. By my calculation on a forward PE of just 16.7 based on underlying earnings growth of 25% for 32 cps for FY17, (which I think is increasingly looking like a very conservative growth rate assumption for the current year). Market is obsessed with the possibility of a housing correction...which by way of the evidence emerging, simply isn't happening https://www.nbr.co.nz/article/auckla...shows-b-201556

I bought more today.

[JoeGrogan]

Hopefully the sp can break through the $5.40 barrier this time around.

[Food4Thought]

Hopefully the sp can break through the $5.40 barrier this time around.

It has, and not many sellers left. Only small parcels showing at the moment. Not a bad day. I love these 1% days, 1 % on a lot, is very nice. More excited about it breaking through the $5.60 mark... but i'm probably one of the more optimistic holders on here.

[winner69]

It has, and not many sellers left. Only small parcels showing at the moment. Not a bad day. I love these 1% days, 1 % on a lot, is very nice. More excited about it breaking through the $5.60 mark... but i'm probably one of the more optimistic holders on here.

No mate - the optimistic ones are waiting for $7 by Christmas (when reported earnings will be looking like 75 cents a share (ie a PE less than 10)

[Food4Thought]

No mate - the optimistic ones are waiting for $7 by Christmas (when reported earnings will be looking like 75 cents a share (ie a PE less than 10)

I like you. I like that optimism