Australia's AVJennings hits near 3-year high on strong results, upbeat outlook

Avjennings

19/08/2021 03:53

** Shares of home builder  AVJ.AX  rise as much as 3.2% to
A$0.655, their highest since October 2018
    ** Says https://investors.avjennings.com.au/DownloadFile.axd?file=/Report/ComNews/20210819/02408892.pdf
 FY21 profit attributable doubles from last year to A$18.7 mln
($13.48 mln), revenue up ~19% to A$311.1 mln
    ** Declares final dividend of 1.8 Australian cents per share
    ** As of June 30, AVJ had 1,537 lots under development vs
1,117 lots last year
    ** Plans to increase housing under construction at its
projects in FY22
    ** Says earnings bias is expected to be towards 2H21 as
lockdowns impact 1H21
    ** About 447,000 shares change hands, vs 30-day average of
62,000 shares
    ** Up 22% this year, as of last close


($1 = 1.3875 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))