Villa World Limited Announces Consolidated Unaudited Earnings Results for the First Half Ended December 31, 2016; Provides Earnings Guidance for the Full Year of Fiscal 2017
February 14, 2017 at 04:25 pm EST
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Villa World Limited announced consolidated unaudited earnings results for the first half ended December 31, 2016. For the period, the company reported revenue from land development, residential building and construction contracts of AUD 209,440,000 compared with AUD 200,153,000 for the same period a year ago. Profit before income tax was AUD 27,977,000 compared with AUD 28,494,000 for the same period a year ago. Profit is attributable to owners of Villa World Limited was AUD 19,616,000 or 17.3 cents per diluted share compared with AUD 20,426,000 or 18.3 cents per diluted share for the same period a year ago. Net cash inflow from operating activities was AUD 34,279,000 compared with AUD 43,496,000 for the same period a year ago. Payments for property, plant and equipment was AUD 294,000 compared with AUD 359,000 for the same period a year ago.
The company provided earnings guidance for the full year of fiscal 2017. Assuming general consumer confidence is maintained, interest rates remain low and first home buyer grants remain in place, the Company is targeting statutory profit after tax of AUD 37.5 million in fiscal 2017, an increase of 11% on fiscal 2016 (AUD 33.7 million). This represents EPS of 33.1 cents per share(fiscal 2016: 30.6 cents per share). This result is underpinned by strong carried forward sales, continued sales momentum across the Company's markets, an increased delivery capability and greater clarity on delivery.
Villa World Limited is a property developer and housing provider. The Company's principal activities include the development and sale of residential land, and the development, construction and sale of house and land packages. It operates through two segments: Property development and construction - Queensland and New South Wales, and Property development and construction - Victoria. It develops and sells residential land and buildings in Queensland, New South Wales and Victoria. Its portfolio includes approximately 5,940 lots. Its properties in Brisbane include AFFINITY-THORNLANDS, EMINENCE-BRIDGEMAN DOWNS, RIVA-JOYNER, SEASCAPE-REDLAND BAY, THE SANCTUARY-WOODLANDS and WATERLINE-THORNLANDS. Its properties in Gold Coast include ARUNDEL SPRINGS-ARUNDEL, PARKSIDE-COOMERA and SEABRIGHT-JACOBS WELL. Its properties in North Queensland include AUGUSTUS-HERVEY BAY and LITTLE CREEK-GLADSTONE. Its properties in Victoria include CARDINIA VIEWS-PAKENHAM, LAVINIA-GREENVALE and SIENNA-PLUMPTON.
Villa World Limited Announces Consolidated Unaudited Earnings Results for the First Half Ended December 31, 2016; Provides Earnings Guidance for the Full Year of Fiscal 2017