This article is from the Australian Property Journal archive
PERTH based developer Cedar Woods has reaffirmed its previous after tax profit guidance of $15 million for FY10.
The result represents a 61% increase over the net profit reported for FY09. An interim dividend of 5 cents per share was paid last month and the final dividend will be announced with the annual result in August.
Meanwhile the company said in the medium term, the increased contribution from the Melbourne projects, new projects entering the development phase and joint ventures will supplement earnings.
“The company has already put in place a significant number of presales which will underpin earnings in FY2011.
“The diverse portfolio of projects, with approvals in place, positions the company to deliver earnings growth and value for shareholders in future years,” Cedar Woods concluded.
Australian Property Journal
