Stronger business conditions in Queensland have help boost Landmark White?s first half year results.
The property valuation firm has posted a revenue increase of 38.6% for the six months to December 2006 to $12.92 million – compared to $9.32 million in December 2005.
The company’s EBIT increased to $987,063, up 8.91% from $905,993 in the same period. An interim dividend for the year has resulted in 2.2 cents per share, up 10% on last year.
The company has booked a net profit after tax of $674,458, up 5.7% when compared to $637,837 in 2005.
Landmark White’s chief executive Brad Piltz said the increase in revenue is not only a result of the May 2006 acquisition of a Melbourne residential valuation practice, but also from increased revenues from the commercial practice.
Landmark White’s chief financial John Clements said LMW Residential has experienced a significant increase in revenues and profitability from its Queensland office.
“…However a continued declining NSW market has hindered its overall performance.”
Clements added that the Victorian market has remained relatively static.
“LandMark White has seen continued growth in the commercial valuation offices, with increasing revenues and profitability across all offices. Internal management of this company remains strong with 110 staff in 7 eastern seaboard offices.
“We remain in a strong position to maintain our existing level of growth given the positive outlook for the commercial property markets across Australia,” Piltz added.
Australian Property Journal
