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FINBAR GROUP LIMITED — Capital/Financing Update 2014
Jan 14, 2014
64943_rns_2014-01-14_daf4e60e-af6d-459a-90d1-6ecc41c9fb4b.pdf
Capital/Financing Update
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ASX MARKET & MEDIA ANNOUNCEMENT
15 January 2014
HALF YEAR GUIDANCE
Perth, 15 January 2014: Western Australia’s leading apartment developer Finbar Group Limited (ASX:FRI) ( Finbar or the Company ) is pleased to advise that we will be reporting an after tax profit of approximately $19 million for the reporting period ending 31 December 2013.
The Company is anticipating that the Au residential project will reach practical completion this financial year, however it is still uncertain as to whether settlements will occur in the current financial year.
As such the Company maintains its guidance of achieving an after tax profit of approximately $31m for the financial year to 30 June 2014 in the absence of completing settlements at Au.
If, as the second half progresses, it becomes sufficiently definite that Au settlements will be achieved in FY14, then the Company will provide further guidance as the additional revenues will likely result in a material increase in profit for the financial year.
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For further information, please visit www.finbar.com.au or contact:
Darren Pateman Anthony Hewett Managing Director Company Secretary Finbar Group Limited Finbar Group Limited Email: [email protected] Email: [email protected]
Finbar Group Limited, its controlled entities and its jointly controlled entities, is a property development company whose core business lies in the development of medium to high density residential apartments and commercial property within the Perth Metropolitan Area and the Pilbara within the State of Western Australia.
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