LANDMARK White Limited (ASX: LMW) has posted an operational profit after tax of $496k for the full year to 30 June 2012, down from $531k in the previous year.
Revenue from continuing operations was $20,702k, $1,517k lower than the previous year of $22,219k. Revenues from residential property valuations continued to increase whilst commercial property valuation revenues declined due to more difficult market conditions.
The board has declared a final fully franked dividend of 2 cents per share payable, bringing the total dividend for the year to 3 cents per share, which is a level equal to last year. LandMark White has continued to maintain a consistent level of fully franked dividends since listing in 2003.
LandMark White continues to be debt free and had cash funds of $1.9 million at 30 June 2012.
Looking ahead, LandMark White believes its FY2013 will show improvement.
“Nevertheless the property market continues to be challenging and there is considerable upward pressure on professional indemnity insurance premiums in the valuation industry,” the firm said.
Property Review
