PROFIT BOOST FORECAST AT VILLA WORLD

Written on the 6 December 2016

PROFIT BOOST FORECAST AT VILLA WORLD VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to the ASX today.

The company announced that it was targeting net profit after tax of between $19.5 million and $21.4 million for the first six months of the year, compared to $20.4 in the previous corresponding period.

Strong carried-forward sales and momentum in the Queensland and Victorian housing markets is feeding the growth.

Villa World managing director and CEO Craig Treasure says the strength of the Villa World balance sheet continues to support maintenance of a five to six-year pipeline of strategic acquisitions within growth corridors in east coast states.

This includes a $50 million joint venture acquisition of 153 development-ready hectares at Greenbank, in South East Queensland, with Sydney-based Greenfield Development Company. The site has approval for more than 1000 residential lots.

Villa World is also developing an initial 90-dwellings with Greenfield in Oran Park, its re-entry into the New South Wales market.

The Villa World board expects to pay a full-year shareholder dividend of at least 18 cents per share, fully franked. This is in line with the Companys payout policy of 50-75% of NPAT, paid semi-annually.

Latest News

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter