Avjennings Limited (AU:AVJ) has released an update.
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Despite a 12% revenue increase, AVJennings Limited reported a steep 95% decline in Profit Before Tax (PBT) to $1.6M for FY24, significantly impacted by a write-off from the termination of the Rocksberg project. Retail lot settlements dropped 23%, but contract signings surged by 70%, indicating a volatile market with interest rate concerns. The company also demonstrated a focus on capital management, with no final dividend and an emphasis on strategic progress, including the establishment of a Pro9 factory and modernizing initiatives.
For further insights into AU:AVJ stock, check out TipRanks’ Stock Analysis page.
