Arvida earnings rise to record as revaluation weighs on bottom line

Arvida's investment property portfolio is valued at $3.43 billion. (Image: Arvida)

Tue, 30 May 2023

Arvida Group lifted annual underlying earnings 20% to a record in the March year on strong resales of its occupation rights, but the bottom line was knocked by a smaller fair value gain of the property portfolio.Underlying earnings rose to $88 million in the 12 months ended March 31 from $73.5m a year earlier.Arvida lifted sales 16% to $376.4m on increased sales and margins on its resale of occupation rights. New sales volumes dropped 19% due to weather and supply disruptions, but higher prices underpinned revenue. Net profit dropped...

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