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.