Retirement villages, cash flow and disclosure

Summerset Group was very smart in providing a lot more information about current and future cash flows in its latest annual results.That decision was undoubtedly influenced by Ryman Healthcare’s debt difficulties, Ryman’s recent $902 million capital raising and its historic lack of positive cash flow.I hope Summerset continues to provide such information and that the rest of the sector follows suit, but that improved disclosure doesn’t necessarily have an immediate payoff.Summerset shares closed at $9.41 the day before the res...