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Aveo Group Announces FY2017 Media Release

16 Aug 2017  |  09:43:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Aveo Group FY17 Media Release

Aveo Group announced that profit after tax is $108.4m up 22% on FY2016. This result was driven by a lift in earnings from both its Retirement Established Business and its development activities with 266 new retirement units delivered during the year. It recorded sales of 1,242 retirement units in FY2017, up from 799 in FY2016. Sales volumes increased 37% to 1,008 units, whilst the average transaction price point increased 25% to $358,000. The profit contribution from its Non-Retirement activities increased by 14% to $62.7m. It successfully refinanced its syndicated facility to July 2020 and increased total limits by $75m to $632m.

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