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RESIDENTIAL PROPERTY | Staff Reporter, Singapore

AVJennings’ net profit up 39% to $16.5m in H1

More residential contracts were inked.

Australian residential property developer AVJennings Limited revealed that its first-half revenue grew 57.9% to A$187.2 million, while profit before tax rose 42.2% to A$23.9 million and profit after tax increased 39% to A$16.5 million.

The strong performance was on back of its good operating momentum.Contract signings grew 14.6% to 999 lots, up from 872 in the prior corresponding period. Settlements grew 5.2% to 694 lots, up from 660 lots in the prior corresponding period. 

Earnings per share grew by 38.8% to 4.3 cents per share.  

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