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- Release Date: 31/07/13 12:13
- Summary: HALFYR: CDI: CDI: 2013 H1 Results (Media Release)
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CDI
31/07/2013 10:13
HALFYR
REL: 1013 HRS CDL Investments New Zealand Limited
HALFYR: CDI: CDI: 2013 H1 Results (Media Release)
31 July 2013
CDL INVESTMENTS INCREASES 2013 HALF-YEAR PROFIT BY 50%.
Property development and investment company CDL Investments New Zealand
Limited (NZX:CDI) today released its (unaudited) results for the six months
to 30 June 2013 and announced an operating profit of $5.733 million (30 June
2012: $3.834 million) on revenue of $15.816 million (30 June 2012: $10.901
million).
Managing Director Mr. B K Chiu said that CDI had recorded increased sales to
date and these had been primarily sourced from Auckland and Hamilton.
"Our Stonebrook subdivision in Rolleston has sold well. Two stages have been
substantially completed and sales will settle in the second half of this
year. Hamilton is still a good market for the Company and we have also seen
sales activity in Hawkes Bay, Nelson and Queenstown", he said.
Mr. Chiu said that CDI was working on further stages in Hamilton to meet
market demand.
"We are also looking to commence earthworks on our Prestons Road site in
Christchurch before the end of the year and we are targeting making sales in
the first half of 2014".
Mr. Chiu also said that CDI was confident of bettering its previous year-end
results.
"Given our strong sales to date, we are on track to better our 2012 results
in 2013", he said.
ENDS
Issued by CDL Investments New Zealand Ltd
Any inquiries please contact:
B K Chiu / Takeshi Ito
Managing Director / Company Secretary
CDL Investments New Zealand Ltd
09) 913 8077 / (09) 3535005
End CA:00239134 For:CDI Type:HALFYR Time:2013-07-31 10:13:54
