Summerset 3Q sales slip 4.5% as new units awaited

Wed, 03 Oct 2018

By Paul McBeth Oct. 4 (BusinessDesk) - Summerset's third-quarter sales fell 4.5 percent as the retirement village operator waits for a large number of new units to come on stream. Total sales of occupation rights declined to 148 in the three months ended Sept. 30 from 155 a year earlier. Of that, 83 were sales of new units, down 15 percent from a year earlier. Resales were up 14 percent at 66. Summerset's quarterly new sales have tracked behind 2017. Chef executive Julian Cook expects a pick-up in the final three months of the year. ...

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