SUM - Summerset Group

[winner69]

Property market on fire

No wonder Kimgfish increased their holding

All good

https://www.nzherald.co.nz/business/...ectid=12356469

[Beagle]

"Annually, national median prices rose 15 per cent from $575,000 last July to $660,000 last month".

Must admit, that is VERY STRONG.

[Baa_Baa]

"Annually, national median prices rose 15 per cent from $575,000 last July to $660,000 last month".

Must admit, that is VERY STRONG.

Interesting with OCA they revised their valuation model conservatively which hit the balance sheet and contributed to an average result (not sure what sum did), so stands to reason there’s a nascent upside now that property is going ballistic?

[winner69]

Apparently SUM half year out today ...should be close to guidance

If they don’t report it I’ll work out what the RR-NUPPCA is

I reckon that profitability number will support a share price in the $8.00 to $8.50 range (esp seeing it be better than what OCA achieved)

[trader_jackson]

From underlying profits, to development margins... alot of metrics things lower or the lowest even in 3 years... and possibly the first time in sum time that SUM's equity is down... although one thing that is noticeably up is the debt ratio now nearing 36%.
Not exactly a growth company these days it would appear...
https://www.nzx.com/announcements/358066

[winner69]

Underlying profit the lowest in 3 years... and alot of other metrics down... not exactly a growth company these days it would appear... possibly the first time in sum time that SUM's equity is down...
https://www.nzx.com/announcements/358066

At least they made a profit - even if it was only $1.0m

[winner69]

Julian got to get the facts right in his releases

Summerset CEO Julian Cook said the result was at the top end of market guidance provided in
early July which forecast underlying profit between NZ$40 million and NZ$45 million.

Surely $45.1 million BEAT guidance

[bull....]

Coronavirus has influenced valuations of one retirement giant's properties to such an extent that last year's gains in its national property portfolio have been turned into falls and the bottom-line profit has been reduced to nearly zero.

https://www.nzherald.co.nz/business/...ectid=12356985

[allfromacell]

Nice chart showing the resilience of the sector
117408105_605921006978693_7264849434699906812_n.png

[winner69]

Coronavirus has influenced valuations of one retirement giant's properties to such an extent that last year's gains in its national property portfolio have been turned into falls and the bottom-line profit has been reduced to nearly zero.

https://www.nzherald.co.nz/business/...ectid=12356985

Bad eh -- others to follow (esp that Arvida

For those who have bull on Ignore here's what he posted from the NZ Herald

Coronavirus has influenced valuations of one retirement giant's properties to such an extent that last year's gains in its national property portfolio have been turned into falls and the bottom-line profit has been reduced to nearly zero.