AVJennings Delivers Solid First Half ResultHighlights (all...

AVJennings Delivers Solid First Half Result
Highlights (all growth rates are YoY unless specified)
• Revenue of $171.4 million, up 51%
• Settlements of 566 lots, up 55%
• Profit Before Tax (PBT) of $12.6 million, up 482%
• Fully franked interim dividend 1.2 cents per share, up 20%
• Increased land bank underpins future growth - 12.4k lots, up from 9.9k a year ago
Australian and New Zealand residential community developer AVJennings (ASX:AVJ, The
Company) is pleased to provide financial results for the half-year ending 31 December 2019
(H1 FY20).
Financial Results
The Company recorded PBT of $12.6 million, up 482% on the previous corresponding half
(H1 FY19) and Profit After Tax of $8.9 million, up 525%.
The result is consistent with the Company’s position that its primary Brisbane, Sydney and
Melbourne markets are in the early stages of a shallow recovery that it expects to continue through the second half of financial 2020.