This article is from the Australian Property Journal archive
LISTED property developer Sunland is on target to achieve after-tax profit between $92 million and $98 million, in line with guidance given earlier this year.
In the 2021 financial year it posted a statutory net profit after tax of $24.9 million, which was up from $2.4 million in 2020.
This year’s result follows settlements of Grace on Coronation, Greenmount Beach Resort,
The Lakes Lot 909, and stage two of Montaine Residences, where the balance two stages are scheduled for completion and settlement through to October 2022, The Lanes Retail and 80 units at 272 Hedges Avenue, the balance of which will settle through to August.
Managing director Sahba Abedian said proceeds from the transactions have repaid the group’s debt facilities for working capital and project developments.
It also declared a fully franked special dividend of 30c per share which will be paid 28th July.
