AVJennings Limited (ASX:AVJ)
has booked a full year net loss of $15.3 million, significantly narrowing last year’s $29.8 million loss.
In the year to June 30, revenue was $158.5 million, compared to $188.8 million in the previous year.
But second half revenue of $105.6 million almost doubled that of the six months to December 31, 2012, as market conditions improved.
The residential developer flagged subdued lender appetite at the producer and consumer ends of some micro-markets but says market fundamentals remain positive going forward.
AV Jennings will not pay a dividend.