SUM Summerset Group

[lorraina]

You did not buy enough...lol..?

[Basil]

"A rising tide lifts all boats".  Unfortunately, the corollary of this is also true so when the tide goes out...

So where is the tide at present?  I would say we're just a little bit over halfway out and this is a big tide so we're probably headed down to chart datum. 

[Minimoke]

"A rising tide lifts all boats".  Unfortunately, the corollary of this is also true so when the tide goes out...

So where is the tide at present?  I would say we're just a little bit over halfway out and this is a big tide so we're probably headed down to chart datum. 

Or we could be half way in.

[Basil]

Or we could be half way in.

If only that was true.  I am so tired of dog paddling against the tide and getting nowhere.

[Waltzing]

sector to be out of for a while.... wrong tax settings for a start and wrong government....

most young nurses probable heading OS to find higher wages....
 

[Shareguy]

Agree with comments Basil and Waltzing. The pick of the bunch in my opinion. Note 2H22 sales declined by -3% versus 1H22.

[Basil]

Rob Campbell and Julian Cook did a great job setting SUM up for growth in the decades ahead and have left a fabulous legacy for others to build upon.

Scott Scooullar does not have their charisma but is an exceptionally bright guy and has been responsible for all the pricing and financial decisions for many years before Julian left so we have a very safe pair of hands running the business now as demonstrated by their decision to undertake a detailed review of the Parnell village business case.    I am looking forward to being a shareholder again when we get closer to low tide for this sector.

[Minimoke]

If only that was true.  I am so tired of dog paddling against the tide and getting nowhere.

Basic rule of the sea - don't fight a rip. Go with it. And it will spit you out the other end alive - provided you can stay afloat.

[Minimoke]

A fantastic result which I thought would see SUM's share price back over $10.00.
Wrong yet again .Share price down 14 cents to $9.13.....////

Patience @lorraina. Shares trading at $10.18 today. And even a bot or sharsies crew has picked some up at $10.38.

Only a few weeks now until full year announcement on 24 Feb

[winner (n)]

From BusinessDesk

Cyclone Gabrielle has forced aged-care provider Summerset Holdings to evacuate its Te Awa village in Napier twice in the past 24 hours.

Summerset Holdings said residents from Summerset Palms had to evacuate the village in Te Awa last night and this morning on the advice of Civil Defence.

"While it appears their homes are safe and dry, currently the flooding around the village has meant it's not safe to stay there," head of communications Logan Mudge said.

Residents are either going to evacuation centres or staying with family and friends.

"All our residents and staff are doing OK in the circumstances but undoubtedly many are very tired and stressed," Mudge said.

"Things continue to be very difficult in the Hawke's Bay but we've had managed to receive intermittent updates from our team on the ground.

The Summerset village in the bay of Napier still remains on generator power in the main building – although residents are "doing well" under the circumstances.

"For those residents without power, the team at the village are assisting with provision of food and drinking needs where we can," Mudge said.

Across Summerset's other cyclone-affected villages, its Havelock residence currently has power but due to the situation in the region being "really fluid", the aged-provider was trying to get a generator to the village in case the power went out again.

The Hastings village had only a small generator for essential power needs and was also trying to access a bigger generator.

Summerset was tracking Cyclone Gabrielle's progress and listening to advice from local authorities, Mudge said.

Summerset had also provided extra support for its village teams in the most affected regions across the North Island.

At Warkworth's Summerset Falls, the care facility has been without power since Monday, and used a generator to continue operating. Today power was restored to the care centre, but power was still out for some of the independent living residents.

"We have an Emergency Response Team in place monitoring our villages around the country and our village teams are working hard caring for residents and checking in on them," Mudge said.

"The worst appears to be over for the village at this point, but we are on alert in case things change."

Ryman Healthcare told BusinessDesk this morning that Ryman had "offered help to our competitors" which also included Summerset.

In response, Summerset said aged-care providers in NZ were "collaborating" and pulling resources together to help each other.

Ú

[Minimoke]

From BusinessDesk

Cyclone Gabrielle has forced aged-care provider Summerset Holdings to evacuate its Te Awa village in Napier twice in the past 24 hours.

Summerset Holdings said residents from Summerset Palms had to evacuate the village in Te Awa last night and this morning on the advice of Civil Defence.

"While it appears their homes are safe and dry, currently the flooding around the village has meant it's not safe to stay there," head of communications Logan Mudge said.

Residents are either going to evacuation centres or staying with family and friends.

"All our residents and staff are doing OK in the circumstances but undoubtedly many are very tired and stressed," Mudge said.

"Things continue to be very difficult in the Hawke's Bay but we've had managed to receive intermittent updates from our team on the ground.

The Summerset village in the bay of Napier still remains on generator power in the main building – although residents are "doing well" under the circumstances.

"For those residents without power, the team at the village are assisting with provision of food and drinking needs where we can," Mudge said.

Across Summerset's other cyclone-affected villages, its Havelock residence currently has power but due to the situation in the region being "really fluid", the aged-provider was trying to get a generator to the village in case the power went out again.

The Hastings village had only a small generator for essential power needs and was also trying to access a bigger generator.

Summerset was tracking Cyclone Gabrielle's progress and listening to advice from local authorities, Mudge said.

Summerset had also provided extra support for its village teams in the most affected regions across the North Island.

At Warkworth's Summerset Falls, the care facility has been without power since Monday, and used a generator to continue operating. Today power was restored to the care centre, but power was still out for some of the independent living residents.

"We have an Emergency Response Team in place monitoring our villages around the country and our village teams are working hard caring for residents and checking in on them," Mudge said.

"The worst appears to be over for the village at this point, but we are on alert in case things change."

Ryman Healthcare told BusinessDesk this morning that Ryman had "offered help to our competitors" which also included Summerset.

In response, Summerset said aged-care providers in NZ were "collaborating" and pulling resources together to help each other.

Ú

Exactly why people should move into a Summerset home. When the going gets tough there's a whole team of people there to help you out. So much better than living on your own as the water is rising.

[Buzz]

SUM looking for $ and get deeper into debt, to bond holders rather than a bank, right when RYM have CR'd to reduce debt. Haven't said what they what the $ for, would probably have helped if they had disclosed the reason. Either way debt/equity ratio goes up doesn't it? Crazy going's on in this sector, hard to keep up with it.

"Summerset Group Holdings Limited (Summerset) is considering making an offer of up to NZ$125 million (with the ability to accept up to an additional NZ$50 million of oversubscriptions at Summerset's discretion) of six year, fixed rate bonds"

[Minimoke]

SUM looking for $ and get deeper into debt, to bond holders rather than a bank, right when RYM have CR'd to reduce debt. Haven't said what they what the $ for, would probably have helped if they had disclosed the reason. Either way debt/equity ratio goes up doesn't it? Crazy going's on in this sector, hard to keep up with it.

"Summerset Group Holdings Limited (Summerset) is considering making an offer of up to NZ$125 million (with the ability to accept up to an additional NZ$50 million of oversubscriptions at Summerset's discretion) of six year, fixed rate bonds"

They are doing a jacinda. It's an announcement of an upcoming announcement

[winner (n)]

Very solid result

And a great presentation ......clear, concise and no attempt to 'hide' / 'forget' things

Well done

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SUM/407279/389355.pdf

[Crackity]

Interesting how the fair value movement of investment property of + 268.7 million almost matched the profit for the period of 269.0 million.

And it did last year too + 537.5 fair value of investment property versus 543.6 of profit

Spooky - I imagine valuing retirement villages is quite a specialized art

And SUM have some great accountants as they got 3.9 million as an income tax credit this year as opposed to only 27k last year. yay