Share
- Release Date: 22/02/12 18:37
- Summary: FLLYR: CDI: CDI - FY2011 Media Release
- Price Sensitive: No
- Download Document 2.05KB
CDI
22/02/2012 16:36
FLLYR
REL: 1636 HRS CDL Investments New Zealand Limited
FLLYR: CDI: CDI - FY2011 Media Release
POSITIVE MARKET ACTIVITY INCREASES CDL INVESTMENTS NEW ZEALAND'S PROFITS BY
30%
Property development company CDL Investments New Zealand Limited (NZX: CDI)
today reported its results for the year ended 31 December 2011.
CDI increased its profit after tax by 30.1% to $3.8 million (2010: $2.9
million) Revenue increased by 20.4% to $11.7 million (2010: $9.7 million)
over the previous year. The Company said that increased sales out of
Hamilton and Canterbury contributed to the higher result.
CDI's land portfolio also increased in value to $162.7 million at 31 December
2011, up from $159.4 million in 2010. The Company also reported that its
land holdings in Canterbury were not affected by recent ongoing aftershocks.
CDI declared an ordinary dividend of 1.4 cents per share fully imputed (2010:
1.2 cents per share fully imputed) and payable on 11 May 2012. The Record
date would be 27 April 2012. The Dividend Reinvestment Scheme would apply to
this dividend.
Managing Director Mr. B K Chiu said that CDI was optimistic about 2012
trading at this stage.
"Increased sales last year were a welcome recovery from the past two years
and we believe that this pattern will continue during 2012. We have a good
range of sections in Auckland, Hamilton, Hawkes Bay and Queenstown and we
have sufficient stock to meet increasing market demand in these areas", he
said.
Summary of results:
--Profit after tax $3.8 million (2010: $2.9 million)
--Profit before tax $5.4 million (2010: $4.0 million)
--Total group revenue $11.7 million (2010: $9.7 million)
--Shareholders' funds $98.0 million (2010: $94.8 million)
--Total assets $99.2 million (2010: $95.6 million)
--Net tangible asset value (at book value) 37.6 cents per share
(2010:37.5cps)
--Earnings per share 1.47 cents per share (2010:1.17cps)
ENDS
Issued by CDL Investments New Zealand Limited
Enquiries to:
B K Chiu
Managing Director
(09) 913 8058
End CA:00219869 For:CDI Type:FLLYR Time:2012-02-22 16:37:00
