Arvida's underlying net profit steady as it moves to half-yearly dividends

Jenny Ruth
Tue, 25 May 2021

Arvida's annual net profit rose more than three-fold as a result of unrealised property revaluations but the underlying result was flat because of the impact of covid-19 countered by a very strong second half.Net profit for the year ended March rose to $131.1 million from $42.6m the previous year with unrealised gains contributing $121.3m to the latest result.Chief executive Bill McDonald said the underlying second-half result was up 53%, offsetting the additional costs incurred in the first half to cope with the covid pandemic."While...

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