LandMark White Limited yesterday announced its forecast net profit after tax for the 12 months ended 30 June 2006 will be in the vicinity of $1.6 million – a 15.3% increase on 2005.
According to the company, improved result is primarily due to increased revenues attributed to LMW Residential Pty Ltd, the company’s residential property valuation divison which was established in June 2004.
“LandMark White Limited will benefit this financial year from a full 12 months of trading from this fully owned subsidiary which has shown significant growth in the South East Queensland markets,” LMW company secretary John Clements said yesterday.
Following the acquisition of the Melbourne based JLC Valuers last month, LMW Residential now has offices in Brisbane, Sunshine Coast, Gold Coast, Sydney, Parramatta, Melbourne and Adelaide.
“The continued growth in this residential valuation business and the flow through of profits from the latest acquisition should see a larger contribution to the profits of LandMark White Limited over the coming 12 months,” Clements concluded.
By Ted McDonnell
