12 months ago when Axiom started construction on the Port Geographe project they announced forward sales of $58.95m to which they own a 40% share.
On December 19 2006 Axiom announced revised sales of $70 million for 157 lots (out of a total of 621 lots being developed).
Land prices in Perth are smashing any other Australian city because of the minning boom.
If you look at the figures from the last quarter, you can see that none of these sales have been recorded as revenue yet, because they have to wait for title settlement to take place.
Given that they broke soil 12 months ago, the revenue pipeline must be very close to flowing.
No doubt we'll get a strong preview in the Half yearly report due in around 10 days time.
12 months ago when Axiom started construction on the Port...
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