On Track For FY16 Targets
Financial
- Statutory profit after tax increased by 121% to $66.5m
- Underlying profit after tax increased by 89% to $45.6m
- Boosted by a first half skew in non-retirement profit contribution including the delivery of the Milton residential apartment development
- Retirement EBITDA contribution increased by 12% to $29.1m
Operational
- Significant increase achieved in pricing of retirement units transacted
- Active portfolio management reflected in higher numbers of both buyback purchases and buyback sales
- Delivery of 29 new retirement units across three different villages
Strategic
- Acquisition of Freedom retirement villages boosts the development pipeline and enhances Aveo’s care services capability
- Strong sales rates continued at land estates as these are sold down with proceeds recycled into retirement village developments.
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