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Cedar Woods Properties Provides Third Quarter FY2017 Operational & Earnings Update

11 May 2017  |  19:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Third Quarter Operational & Earnings Update

Cedar Woods Properties advised that the Company has re-affirmed its FY2017 net profit after tax (NPAT) guidance of $45m, a record for the Company, and is well-positioned for continued growth in FY2018. The Co's acquisition program and geographic diversification strategy has proven highly successful ensuring the Co. is well-positioned to continue its profit momentum into FY2018, with the Company expecting the development of product in 4 states across Australia. Positive market conditions continued for residential property developers in Victoria during the third quarter, with continued strength in sales volumes across the Co's projects. The Co. continued to build strong pre-sales for future financial years, which are currently at $170m compared with $130m at the same time last year.

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