Villa World Limited announced consolidated unaudited earnings results for the first half ended December 31, 2017. For the period, the company reported revenue from land development, residential building and construction contracts of AUD 202,230,000 compared with AUD 209,440,000 for the same period a year ago. Profit before income tax was AUD 24,880,000 compared with AUD 27,977,000 for the same period a year ago. Profit is attributable to owners of Villa World Limited was AUD 17,305,000 or 13.5 cents per diluted share compared with AUD 19,616,000 or 17.3 cents per diluted share for the same period a year ago. Net cash outflow from operating activities was AUD 41,255,000 compared with net cash inflow of AUD 34,279,000 for the same period a year ago. Payments for property, plant and equipment was AUD 462,000 compared with AUD 294,000 for the same period a year ago.

In second half 2018 the company's focus will remain on delivering and settling carried forward sales and releasing (Wollert). With in excess of 15 substantial projects selling during the remainder of fiscal year 18, the Company expects to projects including The Meadows (Strathpine), Chambers Ridge (Park Ridge), Covella (Greenbank) and Elyssia achieve at least 1,400 sales. (Wollert). With in excess of 15 substantial projects selling during the remainder of fiscal year 18, the company expects to achieve at least 1,400 sales. Gross margin is expected to be within the range of 24% to 26%, with an increased proportion of capital lite projects contributing to profit. While such projects may deliver a lower gross margin, they typically provide a stronger return on investment. Assuming general consumer confidence is maintained, interest rates remain low and first home buyer grants remain in place, the company is targeting at least a 10% growth in statutory profit after tax to at least AUD 41.6 million. This represents EPS of 32.8 cps.