Brief: Arvida Group Posts FY Underlying Earnings Of NZ$51.7 Mln, Up 34%

Arvida

25/05/2020 22:53

May 26 (Reuters) - Arvida Group Ltd  ARV.NZ :
    * FY UNDERLYING EARNINGS OF NZ$51.7 MILLION, UP 34%
    * FINANCIAL OUTCOMES OF COVID-19 WILL IMPACT FY2021
    * BUSINESS OPERATIONS IMPACTED IN SEVERAL AREAS IN FEB AND
MARCH
DUE TO COVID-19
    * UPDATED DEVELOPMENT GUIDANCE FOR FY2021 & FY2022 IS
PROVIDED
WITH 200 NEW UNITS TO BE DELIVERED ANNUALLY
    * DECLARED ORDINARY DIVIDEND OF 1.45 NZ CENTS PER SHARE FOR
FINAL
QUARTER
    * DECLINE IN EARNINGS EXPECTED TO LEAD TO DECREASE IN FREE
CASH
FLOW IN FY2021
    * FY2021 DIVIDEND GUIDANCE WILL BE PROVIDED WHEN EARNINGS
IMPACT
OF COVID-19 IS BETTER UNDERSTOOD

Source text for Eikon:  urn:newsml:reuters.com:*:nNZW1LbCdm
Further company coverage:  ARV.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))