Summerset posts strong profit growth, driven by record sales

Summerset Group Holdings announced an underlying profit of NZ$106.6 million for the six months ended June 30, 2025, a 19% increase compared to the first half of 2024. Reported (IFRS) profit after tax also rose by 26% to NZ$127.2 million. The company's total assets reached NZ$8.7 billion, up 18% on 1H24, with operating cash flows at NZ$228.7 million, a 19% increase.

This strong performance was supported by record sales, with 692 occupation rights sold for the half, including 354 new sales and 338 resales. New sales saw a particular boost, up 22% on 1H24. Summerset also delivered 334 new units across New Zealand and Australia, achieving a development margin of 29.4%.

Progress in Australia continues, with three villages under construction and an expected 50-80 homes to be delivered this year. The company is also focusing on resident experience, maintaining a 97% satisfaction rate for both care and village residents, while staff engagement rated 8.2 out of 10. An interim dividend of NZ11.3 cents per share was declared.