Profit down 72%, as Winton moves into 'buy mode'

Profit down 72%, as Winton moves into 'buy mode'
Wynyard Quarter's Northbrook, cracking prices. (Image: Winton)
Brent Melville
Winton Land settled 158 units during the first half of the year, down on the 219 units for the comparable period, although it lists pre-sales at $409 million. That generated $85.6m in revenues for the dual-Australian and New Zealand listed property developer, down on the $92.8m for the prior year.Profit after tax took a more serious hit, dipping by more than two-thirds or 71.9% to $9.7m, from $34.5m on the back of increased overheads and cost of sales, which were up across the board.Almost half of settlements, 78,...

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