6 Oct 2014

Record quarter for retirement village

5:40 pm on 6 October 2014

Retirement village operator Summerset sold a record number of new units in the September quarter, but its overall sales fell.

The retirement village operator sold 68 new units in the three months, up from 57 in the June quarter and from 52 in the September quarter last year.

However, its resales of existing units fell to 31 from 46 in the June quarter and from 50 in the same quarter in 2013.

Summerset said this reflects low numbers of units becoming available for sale. Unsold existing units fell to 27 at the end of September, from 32 in June.

Forsyth Barr analyst Jeremy Simpson said the company's new unit sales are tracking in line with his forecasts.

Summerset's share price rose 3 cents to $2.82 by the close of trade today.

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