housing finance grows 1.3pc in november

http://www.news.com.au/business/story/0,27574,24911412-31037,00.html

Mr Lavis continued, “Our biggest challenge was ensuring that we reduced our debt in a strategic manner, not just a fire sale. We had to ensure that we had a viable business at theend of the process. We have achieved this and our three core businesses, property development, civil construction services and supply of construction materials to the building and construction industries are all intact and running at very high levels of efficiency.

CEC Group has a solid workforce, long-term project work on the books and a large land bank that will be released according to demand in North Queensland.”

The CEC Group has been operating in North Queensland for over thirty years. The company is a major employer in the region with operations in Townsville, Cairns, Mt Isa and throughout Cape York.

Mr Lavis stated, “We are very pleased with this outcome. It has been a challenging few months but we have worked closely with our financier and they have been very supportive in every way. This now allows us to get on with business and to work on securing some of the opportunities that are present in our market now and in the coming years. We would like to thank our staff, our suppliers, our subcontractors and professional advisors for their support and assistance during this process.”

http://imagesignal.comsec.com.au/asxdata/20090114/pdf/00919322.pdf