Arvida lifts underlying profit 30% as property values soar

Tue, 23 Nov 2021

Arvida lifted bottom line first-half profit 80% as its retirement villages were revalued upwards while underlying profit was up 30%.The company said it was a strong result despite the disruption caused by the country going back into lockdown.Net profit for the six months ended Sept 30 rose to $75.5m from $41.8m in the same six months last year. Property revaluations boosted the latest result by $69.6m compared with the $36.3m contribution to the year-earlier result.The underlying result of $26.6m compared with the year-earlier $20.5m.Arvida sol...

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