Simonds Group see site starts fall but pipeline rise

Company News

by Jessica Amir

Simonds Group (ASX:SIO) has announced its site starts for the 12 months to 30 June 2017 were 154 properties down on the prior period, to total 2,391.

The residential property developer says investor and offshore sales were impacted by tighter government and bank policies on investor lending.

Simonds Group says its trade program, Builders Academy Australia saw a drop in enrollments for FY17, by 697 from the prior period.

Meantime, the group’s sales pipeline strengthened for the FY17 year to 2,725 homes.

Shares in Simonds Group (ASX:SIO) are trading 3.12 per cent lower to $0.31.


Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.