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Current as of 23/09/14 07:40PM NZST

Jamie Gray

Jamie Gray is a business reporter for the New Zealand Herald and APNZ wire agency

Summerset reports solid first half

Summerset Group, which runs retirement villages, says it had a solid first six months. Photo / NZH
Summerset Group, which runs retirement villages, says it had a solid first six months. Photo / NZH

Retirement village operator Summerset Group said its trading performance over the first half was well ahead of the previous comparable period in 2011.

The group achieved 83 new sales of occupation rights and 88 resales of occupation rights for the six months ending June 30, up 102 per cent and and 52 per cent, respectively, over the first half of 2011.

This also compares with the initial public offer forecast for calendar 2012 of 134 new sales of occupation rights and 124 resales of occupation rights, the company said.

Shares in Summerset, which listed on the NZX late last year, traded today at $1.71, up 7c from Thursday's close, and a touch below its record high of $1.73, set on May 1.

Summerset's first half result is due out on August 21.

- APNZ

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