Financial Shares News Sunland Group (SDG)

14th Feb 2011

Sunland Group (SDG) is a property developer listed on the Australian share market. The company was established in 1983 and has benefited from its exposure to the burgeoning Gold Coast property market since the 1980s.

SDG focuses primarily on the construction and management of residential high rises, luxury hotels, commercial property and, to a lesser extent, childcare facilities.

Last week, SDG announced a 7.2% fall in 1H11 net profit to $7.8 million, weighed down by a 5.6% decline in revenue from a year earlier.

SDG’s Australian portfolio saw solid housing sales across the half, although settlements were impacted by wet weather.

The Dubai portfolio continued to face a challenging market conditions despite an increase in sales throughout November and December.

Sunland Group stuck to its full year guidance of $20 million, although this was subject to weather conditions not impacting the timing of its settlements.

SDG didn’t declare an interim dividend, while its share price jumped 2.6% on the day.

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