Summerset Provides Earnings Guidance for 1H18

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz


NZX & ASX RELEASE

10 JULY 2018

SUMMERSET PROVIDES EARNINGS GUIDANCE FOR 1H18

Summerset Group advises that its underlying profit for the six months ended 30 June 2018 is
forecast to be between NZ$43 million and NZ$45 million, reflecting growth of between 21% and
26% on the same period of 2017.
Summerset CEO Julian Cook said that while new sales volumes are lower than the same period
of 2017, the company has seen strong development margins on the homes that have settled
over the first half of 2018.

“We are also seeing good levels of sales contracts and presales on homes which will be
completed and delivered over the remainder of the year.

“Our resales volumes continue to track well, with the realised gains associated with these sales
strong across all regions of the country for the first half of 2018,” said Mr Cook.

No forecast has been provided for NZ IFRS net profit after tax due to the inherent uncertainty in
fair value movement of investment property, a key component of this profit measure.

Summerset’s half year financial results will be released pre-market on Tuesday 14 August 2018.

Underlying profit differs from NZ IFRS net profit after tax. The directors provide an underlying
profit measure to assist investors in determining the realised and non-realised components of
fair value movement of investment property and tax expense in the Group’s income statement.
Underlying profit is an industry-wide measure which the Group use consistently from period to
period.

ENDS

For investor relations enquiries: For media enquiries:
Scott Scoullar Michelle Brooker
Chief Financial Officer Senior Communications Advisor
scott.scoullar@summerset.co.nz michelle.brooker@summerset.co.nz
04 894 7320 or 029 894 7317 04 830 1106 or 021 225 9624

ABOUT SUMMERSET

 Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 23 villages completed or in development across the country. In addition,
Summerset has seven sites for development in Avonhead (Christchurch), Richmond
(Nelson), Kenepuru (Wellington), Lower Hutt (Wellington), Te Awa (Napier), St Johns
(Auckland) and Parnell (Auckland), bringing the total number of sites to 30.
 It provides a range of living options and care services to more than 5,000 residents.
 Four-time winner of Retirement Village of the Year and Silver Award winner in the Reader’s
Digest Quality Service Awards 2017.
 The Summerset Group has villages in Aotea, Casebrook, Dunedin, Ellerslie, Hamilton,
Hastings, Havelock North, Hobsonville, Karaka, Katikati, Levin, Manukau, Napier, Nelson,
New Plymouth, Palmerston North, Paraparaumu, Rototuna, Taupo, Trentham, Wanganui,
Warkworth and Wigram.