SRG expects strong FY16 profit growth

Company News

by Jessica Ellerm


SRG Limited (ASX:SRG) has announced it anticipates its net profit before tax for FY16 to be in the range of $8M to $9M.
 
The guidance represents a 33 to 50 percent increase on FY15’s $6 million result. 
 
SRG has put the improvement down to further progression of its company strategy, as the complex services company moves from a foundation phase to development one.
 
The company has also entered into a contract to sell one of its property’s in South Melbourne for $8.1 million, with settlement due in Q2 of FY17. 
 
SRG Limited reported a net profit of $2.02 million at 31 December 2015.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.