TRINITY Limited (ASX: TCQ) is forecasting a higher net profit result for the FY2012 ahead of the release of the group's full year results next week.
Trinity is forecasting a net profit of $17 to $19 million for the full year ended June 30 2012 compared to $14.9 million in the previous year.
Trinity said a key driver of the group’s 2012 profit result and increase in NTA per security was the gain resulting from the release of the mezzanine debt facility provided to Trinity Limited’s subsidiary, San Remo Project Pty Ltd. This transaction was accretive to the group’s profit and NTA by $18.4 million or 9.3 cents per security.
By comparison, the 2011 result included the accretive impact of the settlement reached with Don O’Rorke and various Project Partners, disposal of the Japanese operations and the profit on the Trinity Land Group restructure.
Trinity is expecting to release its full year results by Friday 31 August 2012.
Property Review
