Villa World gains on residential boom with 57 pc increase in net profit

Listed home builder Villa World has reported a 57.2 per cent surge in net profit to $20.4 million, up from $13 million in the previous corresponding period.

Villa World chief executive Craig Treasure said that as a result of strong market conditions in south-east Queensland and Melbourne, the company was targeting net profit before tax for fiscal 2016 of $46.6 million, representing 59 per cent growth on the previous corresponding period.