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PEET LIMITED — Capital/Financing Update 2006
Jun 13, 2006
65600_rns_2006-06-13_e1eee87b-c789-4f39-bcd3-1fea9f1e6258.pdf
Capital/Financing Update
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14 June 2006
DI BI DI DI
Australian Stock Exchange Limited Exchange Centre Level 4 20 Bridge Street SYDNEY NSW 2000
Dear Sir/Madam
PEET & COMPANY LIMITED PROFIT UPGRADE
Peet & Company Limited (PPC) today announced an upgrade to its after-tax profit for FY06 to $36.4m, representing an increase of approximately 15% on the previous financial vear, being above its previous quidance of 10%.
Commenting on the announcement, Peet Managing Director, Warwick Hemsley, said "Continuing strong conditions in Western Australia and an emerging positive trend in Peet's other major markets of Victoria and Queensland had contributed to the uplift in forecast earnings".
The Company remains committed to its funds management model and has recently closed early and over subscribed its Peet Byford Syndicate Limited capital raising for a broadacre land parcel at Byford in the south east corridor of Perth.
As well as its existing stable of projects under management, the Company has several new projects coming on stream in FY07 and has also been successful in securing a range of new projects to form its syndication pipeline for FY07, including the imminent launch of its Peet Cranbourne Central Syndicate offering for a substantial subdivision parcel in the south-eastern Melbourne suburb of Cranbourne.
Yours faithfully PEET & COMPANY LIMITED
DOM SCAFETTA COMPANY SECRETARY
PERTH - REGISTERED OFFICE Level 7, 200 St Georges Terrace Perth WA 6000 PO Box 7224 Cloisters Square WA 6850 Tel: +61 8 9420 1111 Fax: +61 8 9481 4712 Email: [email protected] Licensed Real Estate Agent in WA Australian Financial Services Licence 225772
SYDNEY Level 20, Tower 2, Darling Park 201 Sussex Street Sydney NSW 2000Tel: +61 2 9006 1290 Fax: +61 2 9006 1010 Email: [email protected]
MELBOURNE Level 1 436 St Kilda Road Melbourne VIC 3004 Tel: +61 3 9868 5900 Fax: +61.3.9866.6230 Email: [email protected] BRISBANE
Level 2 167 Eagle St Brisbane QLD 4000 Tel: +61 7 3137 2040 Fax: +61 7 3137 2045 Email: [email protected]