Australia's Sunland Group hits over 13-year high on property sales

Sunland

23/07/2021 02:30

** Shares of residential property developer Sunland Group
Ltd  SDG.AX  gain as much as 2.8% to A$2.56 – their highest
since April 2008
    ** Co says sold properties in Ingleside, New South Wales to
Ingleside Wilga Development Pty for A$35.3 mln ($26.07 mln)
 urn:newsml:reuters.com:*:nASX5Dczws
    ** Says sale proceeds will contribute about A$11.9 mln net
profit after tax in FY22
    ** Stock on track for a second consecutive session of gain
    ** SDG had risen 11.6% this year, as of last close
($1 = 1.3543 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))