Leading east coast residential property developer Villa World has marked its half-year with robust sales and increased revenue contributing to another strong profit result.
The positive result also prompted an upgrade in the Company’s full year guidance to an after tax profit of $37.5 million, representing growth of 11% over FY16 ($33.7 million).
Villa World announced a half-year statutory net profit after tax of $19.6 million (17.4 cps), compared to a net profit after tax of $20.4 million (18.5 cps) for the half year to 31 December 2015. This is within the half-year guidance range of $19.5 - 21.4 million released on 6 December 2016, with sales at certain Victorian land and housing projects carried forward into 2H17.
Villa World Managing Director and Chief Executive Officer Craig Treasure said the Company was primed for a strong end-of-year result, off the back of a 35% increase in half-year sales (1H17: 673 sales; 1H16: 497) and around $192 million in carried forward sales contracts.
For further information please download PDF attached:
Download this document
