PROFIT BOOST FORECAST AT VILLA WORLD

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.

Subscribe Now!
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

QLD Government buys time on The Star licence suspension decision

QLD Government buys time on The Star licence suspension decision

The Queensland Government has for the second time deferred a suspen...

'54-year-old startup' Tracks plunges into new sets with Surf Shacks, 24/7 TV channel

'54-year-old startup' Tracks plunges into new sets with Surf Shacks, 24/7 TV channel

After the dumping waves of the pandemic nearly knocked out iconic A...

Lendlease enters joint venture with Warburg Pincus in Asia

Lendlease enters joint venture with Warburg Pincus in Asia

Australian development giant Lendlease (ASX: LLC) has announced tod...

ACCC throws a spanner in the works for Louis Dreyfus in its bid for Namoi Cotton

ACCC throws a spanner in the works for Louis Dreyfus in its bid for Namoi Cotton

The takeover plans of Singapore’s Louis Dreyfus Company (LDC)...