Villa World Limited Announces Audited Consolidated Earnings Results for the Year Ended June 30, 2018; Provides Earnings Guidance for the Fiscal Year 2019
August 15, 2018 at 04:02 am IST
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Villa World Limited announced audited consolidated earnings results for the year ended June 30, 2018. The company ended the 2018 financial year with a strong full year result, reporting statutory net profit after tax of AUD 43.6 million or 34.2 cents per diluted share, up 15% on the prior period's result of AUD 37.8 million or 32.4 cents per diluted share. Revenue was AUD 441.6 million compared to AUD 386.8 million a year ago. Profit before income tax was AUD 61,982,000 compared to AUD 53,987,000 a year ago. Net cash outflow from operating activities was AUD 67,640,000 compared to net cash inflow from operating activities of AUD 35,415,000 a year ago. Payments for property, and equipment were AUD 1,518,000 compared to AUD 594,000 a year ago. Net debt as at 30 June 2018 was AUD 171.1 million compared to AUD 73.8 million a year ago.
The fiscal year 2019 gross margin is expected to be within the range of 24% to 26%. The company expects cash outflow for acquisitions of AUD 40 million to AUD 60 million in fiscal year 2019, inclusive of AUD 7 million in capital lite transactions, with the balance funded from existing debt facilities. The company is targeting a statutory profit after tax of approximately AUD 40 million, assuming general consumer confidence is maintained, interest rates remain low, consumer credit conditions do not deteriorate, and first home buyer grants remain in place.
Villa World Limited is a property developer and housing provider. The Company's principal activities include the development and sale of residential land, and the development, construction and sale of house and land packages. It operates through two segments: Property development and construction - Queensland and New South Wales, and Property development and construction - Victoria. It develops and sells residential land and buildings in Queensland, New South Wales and Victoria. Its portfolio includes approximately 5,940 lots. Its properties in Brisbane include AFFINITY-THORNLANDS, EMINENCE-BRIDGEMAN DOWNS, RIVA-JOYNER, SEASCAPE-REDLAND BAY, THE SANCTUARY-WOODLANDS and WATERLINE-THORNLANDS. Its properties in Gold Coast include ARUNDEL SPRINGS-ARUNDEL, PARKSIDE-COOMERA and SEABRIGHT-JACOBS WELL. Its properties in North Queensland include AUGUSTUS-HERVEY BAY and LITTLE CREEK-GLADSTONE. Its properties in Victoria include CARDINIA VIEWS-PAKENHAM, LAVINIA-GREENVALE and SIENNA-PLUMPTON.
Villa World Limited Announces Audited Consolidated Earnings Results for the Year Ended June 30, 2018; Provides Earnings Guidance for the Fiscal Year 2019