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AVJennings' H1 FY2017 earnings drop 14.4%; revenue down 16.6%

Profit includes A$3.5m release of impairment provision driven by NSW, South Australia projects

Published Mon, Feb 20, 2017 · 09:50 PM

Singapore

AUSTRALIAN residential property developer AVJennings on Monday reported a 14.4 per cent drop in net profit to A$14.1 million (S$15.3 million) for the six months ended Dec 31, 2016, as revenue took a hit.

The net profit for H1 FY2017 also included a net A$3.5 million release of impairment provision predominantly driven by projects in New South Wales and South Australia, which was …

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