AVJennings understated revenue from NZ operations by A$12m

The 508-lot development in Owera, north of Auckland. (Image: Supplied)

Tue, 27 Feb 2024

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...

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