The West

Finbar flags record full-year result

Property developer Finbar says it is on track to exceed last year's record annual profit of $28.3 million with an expected first-half after-tax profit of about $14 million.

The company said 85 settlements at its Pelago West development in Karratha had boosted its first half performance and settlements at its Lime Apartments in East Victoria Park and Adagio Apartments in East Perth would bolster its books in the second half.

Managing director Darren Pateman said the second half would see the completion of Adagio, along with more settlements at Lime and Pelago West which the company was confident would all help to underpin a record full-year result.

Finbar said it expected to announce its audited half-year results on Thursday, February 28.

Shares in the company were up 2.5 cents, or 2.16 per cent, to $1.185 at 11.40am.

The West Australian

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