PORT Bouvard expects to exceed their full year profit forecast of $16 million for the 2007 financial year.
Port Bouvard managing director Ross Neumann said the fact the company is in line to exceed its budget forecast illustrates that the market for exclusive residential property remains strong.
“In recent months we have been selling the most exclusive residential and built-form homesites at Port Bouvard, with demand continuing to be very strong,” Neumann said. “We are selling the last of our land at Port Bouvard and preparing the company for aggressive re-growth over the next few years.”
The company recently completed a $112 million capital raising via a placement and renounceable rights issue to shareholders to fund the purchase of the Point Grey project site and introduce additional institutional capital to the share register.
Australian Property Journal
