The Au apartment complex in East Perth.
The Au apartment complex in East Perth.

UPDATE 1.35pm: Apartment developer Finbar Group has foreshadowed a first-half net profit of about $19 million, up 36 per cent on the previous corresponding period.

The company also gave a conservative estimate of full-year after tax profit of about $31 million, similar to last year's figure of $31.2 million.

However the company said the full-year estimate could be revised up if it could complete settlements on its Au residential project on Adelaide Terrace in East Perth this financial year.

The sold-out Au development, which is scheduled for practical completion before the end of the financial year, comprises 192 apartments and two commercial lots.

Finbar shares closed steady at $1.58.

The West Australian

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