Summerset lifts fourth-quarter sales 31% as strong resales bolster annual figure

Sun, 07 Jan 2018

By Paul McBeth Jan. 8 (BusinessDesk) - Summerset Group lifted fourth-quarter sales 31 percent, setting a quarterly record for the retirement village operator and developer, due largely to a jump in the resale of occupation rights. The Wellington-based company increased sales of occupation rights to 204 in the three months ended Dec. 31 from 156 a year earlier, of which new sales were flat at 106 while resales almost doubled to 98. That took annual sales to 682, a 3.6 percent gain from 2016, of which new sales shrank 7.7 percent to 382 wh...

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