10/07/2009 - 10:25

Finbar expects record FY profit of $19m

10/07/2009 - 10:25

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Property developer Finbar Group says it anticipates its 2009 financial year profit to reach a record $19 million, a 55 per cent jump on the previous year.

Property developer Finbar Group says it anticipates its 2009 financial year profit to reach a record $19 million, a 55 per cent jump on the previous year.

The developer said it will also increase the final dividend to five cents a share, full franked.

Shares in the company were untraded at 78 cents each.

The increased profit guidance follows a 51 per cent fall in Finbar's interim net profit result of $3.9 million.

However the company had maintained the full year net profit result will be in excess of the 2007/08 net profit of $12.2 million.

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