SUM Summerset Group

[Basil]

Haven't looked for ages but funnily enough the analysts all rate it a buy with an average targeted 12 month price of 99.25 cents, call it $1  https://www.marketscreener.com/quote/stock/OCEANIA-HEALTHCARE-LIMITE-103506268/consensus/

Anyway, back to SUM.  An exceptionally well-managed company that's trading at a full and fair price.  Whilst I have the upmost respect for KW, I disagree on this matter.  SUM is not a Ponzi scheme in my opinion.

[ValueNZ]

Last thing I want to see is a takeover, and no way in hell I'd sell mine for $1.00.

Agreed, although a takeover at $1 would give me a CAGR of ~42% over the last 1.5 years so regardless I'd do well.

I'd rather be able to invest my wage at these cheap prices for as long as possible.

[KW]

Anyway, back to SUM.  An exceptionally well-managed company that's trading at a full and fair price.  Whilst I have the upmost respect for KW, I disagree on this matter.  SUM is not a Ponzi scheme in my opinion.

Everyone who invests in a ponzi scheme says that    Sadly, when you do find out it is one, its too late. 

[winner (n)]

Solid Q1 sales numbers to start new financial year

"Total sales for Q1 this year were 21 per cent higher than the same time last year, with both new and resales increasing year-on-year," says Summerset CEO Scott Scoullar.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SUM/429243/416386.pdf

Long term chart still looks pretty good
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[Azz]

On the other hand, OCA is trading well below half their NTA.  Maybe OCA directors will allow shareholders to have a say in their own future if someone comes knocking on the door at around ~ $1?    You never know, there's a possible chance of a takeover there.  I am sure many long-suffering shareholders would welcome the opportunity to sell into a takeover at around, or slightly above $1.

Another possibility for OCA is rapid unscheduled financial implosion.

[Breezy]

Another possibility for OCA is rapid unscheduled financial implosion.

Troll along.

[Azz]

Troll along.

This is the wrong thread so I'll keep it brief. I think OCA is in serious trouble. My view is not trolling; it is my view.

[Azz]

Re Summerset, I've described it as:

"The only shining light currently of the big four RV operators"

And I stick by that.

[Breezy]

This is the wrong thread so I'll keep it brief. I think OCA is in serious trouble. My view is not trolling; it is my view.

Please close the door on the way out and stop cross pollinating unsubstantiated rubbish on the wrong thread.

[Azz]

Please close the door on the way out and stop cross pollinating unsubstantiated rubbish on the wrong thread.

I was merely replying to Basil's comment that OCA could be ripe for a takeover.

[Greekwatchdog]

Not Bad

2Q24 METRICS – SALES OF OCCUPATION RIGHTS AND HY PROFIT GUIDANCEThe wider property market in NZ has been softer than anticipated to start 2024, restrained by high interest rates, weak consumer confidence and cost of living pressures.Despite these conditions, Summerset Group reported 333 sales for the quarter ending 30 June 2024, comprising 156 new sales and 177 resales.Total sales for the first half of the year were the highest first half the company has recorded, with resales being particularly strong, resale pricing was up 0.3%. Sales for the six months to 30 June were the second highest ever behind 2H23.Summerset CEO Scott Scoullar said the result was pleasing. "Settlements were strong for the second quarter of the year, up 31% on the first quarter and up 22% year-on-year."Our residents' motivation to buy continues to be driven by life events, such as their health or desire for more community, these factors don't change in a constrained economy. While our prospective residents are still highly motivated the sluggish property market is restricting them from selling their home as quickly as they would like which is slowing some moves to our villages."In spite of this it's been very pleasing that Summerset has now achieved total sales volumes of 1,200 units over the past 12 months against challenging market conditions."Mr Scoullar said that while sales have increased and continue to track well the company expects underlying profit for the half year to 30 June to be similar to the same period last year."The market is very challenging, our sales are progressing well but at the same time our construction costs, interest rates and labour costs have all increased and we expect to deliver an underlying profit between $87m-$90m."Mr Scoullar also noted that 2023's underlying profit included $4.9m of high value waterfront Hobsonville homes sold in 1H23, and Summerset did not have similar unique units for sale in the first half of this year.The company has construction in progress at 17 sites throughout New Zealand and Australia and continues to be on track to deliver approximately 675-725 homes in 2024. Summerset expects it will deliver closer to the lower end as the company actively and prudently manages deliveries to market conditions."The year end result is dependent on an uplift in new sales in the second half, and we have confidence at this point those sales will be achieved noting that new deliveries are on track," says Mr Scoullar.

[Basil]

Best of breed by a VERY long way.

[ValueNZ]

Best of breed by a VERY long way.

And priced as such.

[winner (n)]

Updated sales chart ....looks pretty healthy I reckon, esp that resales line

You cannot view this attachment.

[Basil]

And priced as such.

Yes it is but on the other hand the bitter taste of poor quality lingers long after the thrill of an apparent bargain