Revenue: down 60% at $32.4m, from a comparable $81.1m for the half year.
Profit: an after-tax loss of $0.9m, from a loss of $2m.
Main takeaway: A weak six months was partially offset by a $7m increase in commercial revenue, with fast-track approval expected on the company's Sunfield project in Auckland due in the coming weeks.
Winton Land, New Zealand's only publicly listed residential developer, saw revenues decline by 60% to $32.4 million, as settlements plummeted to just 14 units for the half-year to December, down 76 on the comparable 90 units.
An increase of $7m in commercial revenue, notably from its Ayburn retail
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Key points
Revenue: down 60% at $32.4m, from a comparable $81.1m for the half year.
Profit: an after-tax loss of $0.9m, from a loss of $2m.
Main takeaway: A weak six months was partially offset by a $7m increase in commercial revenue, with fast-track approval expected on the company's Sunfield project in Auckland due in the coming weeks.
