Cedar Woods Properties Limited
(ASX:CWP) has reported that its property pre-sales, in the September quarter, totalled $230 million. The company says this is a 25% increase compared to the same period last year.
Cedar Woods says the majority of its pre-sales will be settled this financial year, and its improved result was was due to strong sales activity in Victoria and Queensland.
The company has re-affirmed its guidance, which is a $43.6 million net profit after tax
in FY17, if current market conditions continue.
The company also says that the Perth property market has recently stabilised, with its two new projects (Bushmead Private Estate and Ariealla) enjoying strong sales.
Cedar Woods reported a net profit of $43.6 million at 30 June 2016.
