Villa World eyeing $40m in FY19 profit after tax

Company News

by Jessica Amir

Residential property developer, Villa World (ASX:VLW) advised its FY19 profit after tax will be $40 million, on the back of strong sales.

It comes as it made 1,678 sales in FY18. On 9 July 2018 it advised it would be carrying forward significant pre-sales into FY19 and FY20.

Many of those are conditional sales on Victorian projects, which reflects the strong performance in Clyde North and Plumpton, with pre-sales being achieved well ahead of construction starting.

The $40 million profit guidance assumes revenue will move into FY19 and FY20, on the back of planning authority delay. However, Villa World says many of its projects could be delivered sooner than expected.

Shares in Villa World (ASX:VLW) are trading 5.24 per cent lower at $2.17. 
  

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.