Australia's Sunland Group hits 14-year high after profit surge

Sunland

17/08/2022 02:27

** Shares of residential property developer Sunland Group
 SDG.AX  rise as much as 7.1% to A$2.73, their highest since
Jan. 15, 2008
    ** Co reports annual net profit after tax of A$92.6 mln 
($65.01 mln), up from A$24.9 mln a year ago  urn:newsml:reuters.com:*:nASXJw01V 
    ** Declares final dividend of 15 Australian cents a share
    ** Attributes results to performance of its multi-storey
segment via settlements at various projects in the Gold Coast
and Sydney 
    ** Stock posts its best intraday pct gain since July 6
    ** SDG up 3.6% YTD, as of last close 

($1 = 1.4245 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))