CDL profits grow
Listed property company CDL investments have reported good profit growth in the full 2011 financial year.
Profit after tax was up 31% from $2.9 million for the year ending December 31 2010 to $3.8 million for the year ending December 31 2011.
Profit before tax for the full-year 2011was $5.4 million, up 35% from $4 million for the full-year 2010.
At 31 December 2011 the independent value of CDL’s land holdings was $162.7 million up 2.1% from $159.4 million at 31 December 2010. No new land acquisitions were made during 2011.
CDL shares last traded on the NZX at 32c, with no movement.