Group CEO, Scott Scoullar, said “we have commenced the second stage of deliveries in Cranbourne.
“We’ve made excellent progress at our other sites too with civil works well underway at our Chirnside Park site in Melbourne’s northeast while we’ve had unanimous approval for our plans for our Oakleigh South village from the Monash Council and we have an approved development plan for our Torquay site as well.”
Summerset Group delivered an underlying profit at the upper end of the guidance provided to investors in early July (NZ$87-90m).
“We feel, in the current market, we’ve shown the continued strength of our sales pipeline, our disciplined approach to costs and the demand for our retirement living option despite the weak macroeconomic conditions we find ourselves in,” he said.
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