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Summerset Group Holdings Limited (ASX:SNZ)

ALERT: Price-sensitive ASX Announcement for SNZ
Current share price for SNZ : $6.180 -3.57 (-36.62%)+
Announcement
Release
28 Aug 2025 7:32AM
Price at Release
$9.750
Full Release
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Summary
Summerset Group Holdings Limited reported strong financial results for the half year ended 30 June 2025, with an underlying profit of NZ$106.6 million, up 19% from the previous year. The net profit after tax was NZ$127.2 million, a 26% increase. The company's total assets rose by 18% to NZ$8.7 billion. Operating cash flows increased by 19% to NZ$228.7 million. Summerset maintained a gearing ratio of 36.7%, well within their target range. The company achieved a record number of 692 sales of occupation rights, which includes 354 new sales, marking a significant 22% growth in new sales from 1H24. Summerset also delivered 334 new units across New Zealand and Australia, enhancing their development margin to 29.4%. Resident satisfaction remained high at 97%, and staff engagement scored 8.2 out of 10. An unimputed interim dividend of 11.3 cents per share was declared. The company made progress in its Australian operations, with several projects under construction and expected to deliver significant unit volumes in the coming years.
Key Points
  • Underlying profit for 1H25 of NZ$106.6m, up 19% on 1H24.
  • Reported net profit after tax was NZ$127.2m, up 26% on 1H24.
  • Total assets increased by 18% to NZ$8.7 billion.
  • Operating cash flows rose by 19% to NZ$228.7 million.
  • Gearing ratio maintained at 36.7%.
  • Record 692 sales of occupation rights, including 354 new sales.
  • 334 new units delivered across New Zealand and Australia.
  • Development margin improved to 29.4%.
  • Resident satisfaction at 97%.
  • Staff engagement score of 8.2 out of 10.
  • Declared an unimputed interim dividend of 11.3 cents per share.
  • Progress made in Australian operations with multiple projects under construction.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.