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Villa World Tracking Towards Strong Full Year Result

Leading residential property developer Villa World (ASX:VLW) is on track to deliver full-year forecast profit growth of at least 10% and has set the scene for even stronger performances ahead.

The Company today announced a $17.3 million statutory profit after tax for the half-year to 31 December 2017, with $207.4 million in sales contracts carried forward to settle across 2H18 and FY19.

The result was within the Company’s guidance range of $17 million - $18 million and places Villa World on track to deliver its FY18 after tax profit forecast of at least $41.6 million, which would represent growth of at least 10% over the FY17 result (EPS of at least 32.8cps (FY17: 32.5cps)).

Villa World CEO and Managing Director Craig Treasure said strong sales, along with new partnerships and earnings from joint ventures, had contributed to the half-year result and would deliver strong forecast earnings through FY19 as flagship projects continue to come online.

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