House and land packages group AV Jennings (AVJ) says it’s on track to post a full year profit in excess of $40 million.
AV Jennings managing director Peter Summers said the company was on track to deliver a profit before tax of $40 million or higher for the 2014/15 financial year. The company said the result was despite bad weather in NSW and Queensland which would push a number of settlements into the 2015/16 financial year.
Mr Summers said the guidance reflected “the continuing strong market conditions, particularly in New South Wales, Queensland and Auckland”.
The upbeat guidance comes after the company in February reported a 42 per cent lift in its first half profit.
It made a net profit of $11.87 million for the six months to December 31, up 42 per cent from $8.35 million during the same time the previous year.