Listed residential property developer Villa World today posted its fourth consecutive full-year profit growth, announcing a $37.8 million net profit after tax, up 12% on the previous financial year.
The Company says continued strong results are part of its long-game strategy, with predictions of a further sales surge during the next two years as new projects in Victoria and Queensland replace largely sold-out developments.
Villa World Managing Director and Chief Executive Craig Treasure said deployment of funds from successful capital raising transactions in March 2017 would deliver a series of flagship developments.
“Having virtually sold out on 18 projects by the middle of this financial year, the Company delivered eight new projects in the second half, including developments in the Logan, Gold Coast, bayside Brisbane and Melbourne growth corridors,” Mr Treasure said.
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