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NZX & ASX RELEASE 24 AUGUST 2021 Summerset 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 SUMMERSET FIRST HALF UNDERLYING PROFIT OF $ 75.5M , UP 68 % • Underlying profit for 1H21 of NZ $ 75.5 million , up 68 % on 1H20 Reported ( IFRS ) profit after tax of NZ $ 263.8 million , up from $ 1.0 million in 1H20 Total assets of NZ $ 4.4 billion , up 27 % on 1H20 Gearing ratio of 28.5 % , down from 32.6 % at FY20 • • Three new sites acquired this year • - 347 new units delivered – a new record for a half year 545 sales - a new record for a half year • Development margin of 21.6 % • Interim dividend of NZ9.9 cents per share Retirement village operator Summerset Group Holdings Limited has announced a reported ( IFRS ) profit of NZ $ 263.8 million for the six months ended 30 June 2021 . The IFRS profit includes fair value movement on investment property and is up from $ 1.0 million for the same period last year , when the long - term financial effects of COVID - 19 were unknown . Summerset reported an underlying profit of NZ $ 75.5 million for the six months ended 30 June 2021 , a 68 % increase on the COVID - 19 impacted first half of 2020 . Summerset CEO Scott Scoullar said the current lockdown was a reminder that New Zealand was still operating in an environment dominated by COVID - 19 . " We have moved quickly to keep our residents and staff safe by restricting entry to our villages , and protective measures such as having care staff in masks and working in cohorts were already in place when the new community case was announced . We have been here before , and are well placed to look after our residents ' health and wellbeing once again . " Mr Scoullar said the first lockdown brought home to many people the advantages of retirement village living and that showed in today's results , which include the highest half year of trading ever for the company . There were record sales buoyed by new villages in Te Awa ( Napier ) , Bell Block ( New Plymouth ) and Richmond ( Nelson / Tasman ) . " We are continuing to see strong demand for our brand of retirement living ; the database for our soon - to - open Whangarei village stands at 700 - plus , and nearly 60 % of villas in our developing villages nationwide are pre - sold , " Mr Scoullar said .