Ann: Finbar Completes $164.7 Million Subi Strand Project, page-2

Been monitoring this, but this announcement shows how bad things have gotten.

They save they've sold $124.6m, from a project costing $167.4m. However, that's after selling 211 out of the 264 lots in that project.

In other words they've sold 80% of the stock. But only covered 74.4% of the cost - let alone any earnings.

Of course, it's possible that the units remaining unsold are the higher value ones as a proportion. But this doesn't match typical sales where the flagship lots are sold earlier, and at the end are only the lesser desirable lots.