Cedar Woods Properties: Higher sales, affirms $45M FY17 guidance

Company News

by Jessica Amir

Cedar Woods Properties Limited (ASX:CWP) has re-affirmed its net profit after tax (NPAT) guidance of $45 million for the 2017 financial year.

The property developer says its record profit and positive outlook are backed by higher pre-sales of $170 million, when compared to the $130 million from the same time last year.

The stronger NPAT and pre-sales were also bolstered by settlements in Perth, Melbourne and Brisbane.

Cedar Woods Properties says with development kicking off in South Australia next year, its national presence will further strengthen.

Shares in Cedar Woods Properties (ASX:CWP) traded 0.76% lower yesterday to $5.26.

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