You are using an older browser version. Please use a supported version for the best MSN experience.

Retirement group Aveo doubles profit

AAP logoAAP 17/08/2016

Retirement property operator Aveo's full-year profit has doubled as sales of retirement properties swell and developments continue to grow.

Aveo Group, which operates 89 retirement villages and a large property portfolio across Australia, says its revenue rose 48.3 per cent to $445.3 million for the 12 months to June 30, on the back of record retirement property sales and acquisitions in other retirement groups.

The group's statutory post-tax net profit doubled to $116 million while the the final dividend was up three cents to eight cents, unfranked.

image beaconimage beaconimage beacon