SUM - Summerset Group

[percy]

"We're sorry to see Anne leave the board but we appreciate that she is taking
on a new board position with Infratil and she wishes to manage both her
workload and any potential conflicts that may come with her new role."

So Infratil and Summerset may have conflicts ?
Are Infratil perhaps going to take over Summerset ?
Or perhaps there are more attractive targets in the Retirement industry ?

This may help to explain the whys.
https://www.nzx.com/announcements/403202

[bull....]

summerset putting on hold there building of retirement village in parnell

say rising building costs and falling property market make the project not viable

https://www.nzherald.co.nz/business/...I6JBCEPNZUZDI/

[nztx]

summerset putting on hold there building of retirement village in parnell

say rising building costs and falling property market make the project not viable

https://www.nzherald.co.nz/business/...I6JBCEPNZUZDI/

Ooops . as you say hammertime' .. coming for the sector on that

-31% approx slump for SUM SP in past year, possibly further to come

[bull....]

major event next year add's big risk to sector

Review of Retirement Villages Act begins in 2023

At a high level, the review is set to consider whether the current Act and all its parts remain fit for purpose

https://www.hud.govt.nz/news/review-...egins-in-2023/

[BlackPeter]

major event next year add's big risk to sector

Review of Retirement Villages Act begins in 2023

At a high level, the review is set to consider whether the current Act and all its parts remain fit for purpose

https://www.hud.govt.nz/news/review-...egins-in-2023/

Well, given the time of the year is it even more funny you see everything just with black tinted glasses. Hey, wake up - its the time of joy and friendly colours!

I see huge opportunities for the retirement villages with clarification of the rules and responsibilities for residents as well as operators. I expect rules and regulations to become more standardized, which is good for the residents and for the operators. Less public outcries over alleged "unfairness".

Banking industry is heavily regulated and actually earns a fair income, don't they? So will retirement village operators. Nothing to worry for the good operators, and government might be able to cull any cowboys which damage the reputation of an essential industry.

Government needs retirement villages - so I am sure the review will be balanced and fair.

Merry Christmas ;

[bottomfeeder]

Well, given the time of the year is it even more funny you see everything just with black tinted glasses. Hey, wake up - its the time of joy and friendly colours!

I see huge opportunities for the retirement villages with clarification of the rules and responsibilities for residents as well as operators. I expect rules and regulations to become more standardized, which is good for the residents and for the operators. Less public outcries over alleged "unfairness".

Banking industry is heavily regulated and actually earns a fair income, don't they? So will retirement village operators. Nothing to worry for the good operators, and government might be able to cull any cowboys which damage the reputation of an essential industry.

Government needs retirement villages - so I am sure the review will be balanced and fair.

Merry Christmas ;

Yeah, not going to panic until the results of this review are set in stone. Dont anticipate major changes, and if there are any changes there will always be a work around under a different model. After all its not like we are making money hand over fist. Also they need to encourage investment in this sector.

Merfy Christmas

[alokdhir]

https://www.nzx.com/announcements/405120

277 and first time over 1000 ...W69 shud be happy .

SUM proving again its best of the lot

[winner69]

Great sales update from Summerset

This is the highest Q4 resale settlements we’ve ever seen and the second highest Q4 new sales,” says Mr Scoullar

http://nzx-prod-s7fsd7f98s.s3-websit...120/386777.pdf

[trader_jackson]

Great sales update from Summerset

This is the highest Q4 resale settlements we’ve ever seen and the second highest Q4 new sales,” says Mr Scoullar

http://nzx-prod-s7fsd7f98s.s3-websit...120/386777.pdf

Good news is bad news in the sector right now if ARV's share movement post record results is anything to go by... share price should be down several percent in the next few weeks.
I agree it is a great sales update, shame great news doesn't seem to mean much for sum other listed companies

[alokdhir]

As long the selling is doing well that will keep cash flows going thus they can easily pass over this lull period of property cycle ...so it does matter if the companies are doing well sales wise or not for their future .

SUM doing even better then ever will mean they will have much lesser problem dealing with this phase unlike some others who will have trouble servicing their cash outgo requirements