AVJennings understated revenue from NZ operations by A$12m

AVJennings understated revenue from NZ operations by A$12m
The 508-lot development in Owera, north of Auckland. (Image: Supplied)
Riley Kennedy
Australian-listed residential property and land developer AVJennings has had to tweak its full-year financials after discovering it had understated the revenue from its New Zealand operations by nearly A$12 million (NZ$12.7m).While most of the company’s developments are across the Tasman, it is undertaking a 508-lot development in Owera, north of Auckland.The company, which is listed on the Australian securities exchange (ASX) with a market cap of around A$173m, was also previously the development partner in Hobsonville Point.Back in Augu...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024