Aevum has announced $28.6m profits for the 2010 financial year. The profit announcement provides futher ammunition in Aevum's bid to repel Stockland's low ball takevoer offer. The new figures represent an upswing of 25% from the 2008-9 financial year when Aevum posted a $12.2 million loss. During 09/10, Aevum's average sales price increased 2% and they sold 240 ILU's, representing a 76% increase in turnover from the previous year.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...