Villa World Limited reported unaudited earnings results for the full year ended June 30, 2013. The company has reported a statutory net loss after tax of $13.5 million or 18.2 cents per share for the financial year ended June 30, 2013, compared to a net profit after tax of $8.2 million or 10.4 cents per share for the year ended June 30, 2012. The strength of the company business is demonstrated by the underlying operating profit (before tax and impairments) of $11.2 million, a 17.0% increase on the previous corresponding period of $9.6 million and the third successive year of growth. Revenue of $169.4 million and an improved gross margin of $47.0 million or 27.7% were recorded in the full year. Net debt as at June 30, 2013 was $55.7 million. Net tangible asset (NTA) of $1.85 per share compared to $2.01 per share in 2012. Revenue for the year was largely due to a 10.4% increase in accounting settlements to 646 lots (from 585 in the prior year).

Assuming the positive momentum in general economic and company specific conditions continues, the company is targeting an operating profit before tax in the range of $12 million to $14 million in the fiscal 2014. The company has carried forward $80.8 million sales (217 lots) into the 2014 financial year.