Sunland Group Limited
(ASX:SDG) has boosted its profit guidance for the 2014 financial year. The property developer now expects to report a net profit of between $13 million to $14 million, rising from previous guidance of $12 million.
Sunland has attributed the improved forecast on the company’s successful return to the multistorey residential sector and ongoing capital management initiatives.
The company has reported increased sales and settlements across its national portfolio and says it is on the hunt for more opportunities to expand its national development pipeline.
Sunland has this week started construction of its luxury Abian residential tower in Brisbane’s CBD which has delivered pre-sales of more than $160 million.
Sunland Group reported a net profit of almost $3 million in the first half of the 2014 financial year.
