Australia's Finbar rises after forecasting 18% jump in FY net profit

Finbar

13/07/2021 05:40

** Shares of property developer Finbar Group Ltd  FRI.AX 
reverse losses to rise 1.7% to A$0.890
    ** Co expects net profit of A$8.4 mln ($6.29 mln) for the
full year ended June 30, an 18% jump  urn:newsml:reuters.com:*:nL8N2OP0C1
    ** Aims to pay a final fully franked dividend of 2 cents per
share, a 1 cps increase
    ** Says experiencing strong demand for completed apartments
in Perth; expects to maintain strong cash flow from completed
stock settlements and due to improving operating conditions 
    ** Around 215,000 shares change hands, compared with the
30-day average volume of ~40,000 shares
    ** Stock up 6.7% this year, as of last close
($1 = 1.3344 Australian dollars)

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))