Cedar Woods Properties Limited
(ASX:CWP) has confirmed it is on track to deliver a steady net profit of about $34 million in the 2013 financial year.
The property development company says the guidance is underpinned by $162 million in presales, $22 million up from the year before.
Cedar Woods Properties expects most of these presales to be settled in the current financial year.
The company has advised it experienced steady sales in Victoria and Western Australia during the first quarter and says it is well positioned to leverage an improvement in market conditions.
Cedar Woods Properties generated a net profit of $34.3 million in the full 2012 financial year.
