How many Summerset (NZX:SUM) retirement villages are there in NZ?

Highlights

  • With 30 villages currently operating across the country, Summerset boasts 10 more which are under the planning or development stage.
  • The Company’s retirement villages are specially designed for people over 70 years.
  • Moreover, Summerset’s retirement villages have world-class care centres that are dementia friendly.

Founded in 1994 by John O'Sullivan, Summerset Group Holdings Limited (NZX:SUM; ASX:SNZ) is New Zealand’s leading operator in the retirement villages and aged care sector.

Related Read: Which are the well-known retirement village shares in New Zealand?

Source: Copyright © 2021 Kalkine Media

Equipped with aged care facilities

Summerset Group provides a wide range of independent living options, like townhouses, villas, cottages, and serviced apartments, etc., which are specifically designed for people aged 70 and over. All its aged-care homes boast slip-resistant flooring, extra wide hallways, door handles as well as easily located power switches.

SUM homes are equipped with fencing and round-the-clock staff, thereby offering safety and security. These retirement homes are pet friendly too.

High-quality care offered by SUM homes

The Company provides 24X7 nursing care through a call bell system. It has a highly skilled staff which emphasises offering world-class care.

It is pointed out that its care centres are certified by the Ministry of Health, which provides hospital-level care, rest homes as well as respite care. SUM homes are dementia friendly too.

Also Read: Why To Consider 5 Hot NZX Dividend-Paying Stocks For Retirement?

How many SUM homes are there across the country?

Summerset Group Holdings operates 30 retirement villages across Kiwiland. Some of its retirement homes are based in Wellington, Auckland, Waikato, Taranaki, Canterbury, Otago, Bay of Plenty, Marlborough, Hawke's Bay, Northland, Manawatu – Wanganui, etc.

Also, 10 more retirement villages are under various planning and development stages.

It is noted that more than 6,000 Kiwis live in SUM-run retirement villages and call it their homes.

Unveiling of interim results

Summerset Group had announced that it would release its half-year results for 2021 on 24 August.

Must Read: 10 NZX dividend stocks to explore during this August reporting season

The Company’s ASM results

In its Annual Shareholder Meeting organised in April 2021, its shareholders passed the resolutions related to the re-election of James Ogden and Dr. Marie Bismark as Directors of the Company.

Also, a resolution was passed to authorise the Board to fix the remuneration of its auditors.

A look at SUM’s Q2 2021 metrics

As per Scott Scoullar, its CEO, the Company witnessed a record second quarter, with 154 new sales and 116 resales for the period ended 30 June 2021.

Its waitlist for people seeking to enter a SUM village has increased by 8% since Q1.

Moreover, the Company is looking forward to delivering NZ$54 million worth of building at Christchurch-based Avonhead in Q3. The building would be equipped with serviced apartments, a gym, swimming pool, café along with a state-of-the-art memory care centre.

Related Read: Summerset Group sets new sales records in Q2

Bottom Line

Summerset Group Holdings is focused on providing a wide range of living options for the aged population and strives to work towards their welfare.

On 23 August, at the time of writing, Summerset Group Holdings was gaining 0.38% at NZ$13.2.

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK