Revenue ($m) 169.2, up 31pc from previous year 128.8
Pre-tax profit ($m) 32.4 v 14.7
Net profit ($m) 22.4 v 10.2
Interim dividend (¢) 13.0 v 12.5, payable April 30
Cedar Woods’ net profit more than doubled in an unusual half-year in which settlements were boosted by delayed transactions held over from the previous half and conditions in its home WA market boomed.
The developer on Wednesday said its net after-tax profit leaped to $22.4 million in the six months to December from $10.2 million. Earnings would be skewed to the first half in which revenue rose 31 per cent to $169.2 million.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
