Winton weathers storms, doubles half-year revenue

Winton weathers storms, doubles half-year revenue
Intensification needs to be done through 'greenfields sites'. (Image: BusinessDesk)
Brent Melville
Residential land developer Winton Land delivered after-tax profits of $34.5 million for the six months to December, up from $1.3m for the comparable period, and described it as a "fantastic" half-year performance.That was off a 91.9% improvement in revenues to $85.1m, generated by the sale of 219 units, with future earnings backed by pre-sales now sitting at $565.8m.The New Zealand and Australian-listed company will pay a 2.06 cent dividend and has updated its policy to pay out on a ratio of between 20% to 40% of full-year distributab...

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