Brief: Arvida Group reports net profit after tax of $19.4 million for six months to 30 Sept 2016

Arvida

22/11/2016 20:29

Nov 23 (Reuters) - Arvida Group Ltd  ARV.NZ  
    * Net profit after tax of $19.4 million for six months to 30 
september 2016 
    * Arvida entered into a conditional agreement to acquire 
100% of shares in cascades retirement resort limited for $21.2 
million 
    * For first six months to 30 sept 2016, total revenue for 
period increased to $46.9 million 
    * Approved a dividend of 1.1 cents per share for september 
quarter 
    * Arvida group-acquisition is immediately accretive to 
earnings, to be funded from existing debt facilities with 
gearing increasing to 14% post completion 
    * "expect group to continue to perform well with this 
momentum continuing for full year" 
    * All figures in NZ$ 
 
Source text for Eikon:  ID:nNZW7rrlzj  
Further company coverage:  ARV.NZ  
 
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