"Following on from our strong performance last year, sales for the group have continued to be strong and we are pleased with the results for the first six months of the year," chief executive Norah Barlow said.
The group reported it had achieved 83 new sales of occupation rights and 88 resales of occupation rights for the six months, increases of 102% and 52% respectively, on the previous corresponding period.
Summerset, which is building a village in Dunedin, is the country's third-largest retirement village operator with 1364 retirement units and 323 care beds spread across 13 villages throughout New Zealand.
The group designs, develops and operates villages that give specialised long-term managed care to the elderly.
Mrs Barlow said the financial statements for the six months ended June were being prepared and the state of sales provided might not necessarily reflect the financial performance for the period.
The half-year results would be released on August 21.
Craigs Investment Partners broker Peter McIntyre said that like its more established competitor, Ryman Healthcare, Summerset was able to recycle capital and fund future development using interest-free loans from existing residents.
While Ryman was the leader in the industry, with a better track record, and Summerset was less proven, Summerset had made rapid progress since it emerged from AMP ownership in 2009.
Summerset traded at a substantial discount to Ryman but Mr McIntyre believed it could start to narrow the valuation gap by delivering on its strategy.
"Overall, we see Summerset as higher-risk but higher-reward if its strategy is executed."
