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Cedar Woods Properties Reaffirms FY2017 Guidance

04 Jul 2017  |  11:01:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Cedar Woods Reaffirms FY2017 Guidance

Cedar Woods Properties announced that it reaffirms its FY2017 guidance for a record NPAT of $45m, up on the previous year's result of $43.6m. The Company is to advise that its settlement program for residential stages developed in the second half of the financial year has been completed, with the quantum of settlements achieved in recent weeks meeting internal forecasts. The Company also completed the 2017 financial year with modest gearing, with net bank debt to equity of 25%, at the lower end of the Company's target range of 20%, leaving it well positioned to continue to implement its growth strategy.

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