30 Apr 2013

Summerset Group to build 200 units this year

10:27 pm on 30 April 2013

Retirement village operator Summerset Group plans to build 200 units this year and aims to increase that to 300 units a year by 2015.

Chairman Rob Campbell told the annual shareholders' meeting the company is also aiming to increase its development profit margin from 12% to 15-16%.

He said the company is gradually bringing more of the services in-house as part of the construction process and each time that happens Summerset Group continues to capture that margin.

Mr Campbell said Summerset has been able to identify potential sites and acquire them more quickly than anticipated and it has a very strong balance sheet, so has been able to move well ahead of its original plans.