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Aveo delivers higher earnings than forecast despite (very) negative year

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No doubt making some competitors envious, Aveo has informed the stock exchange that it is upgrading its financial year (FY18) earnings per share predicted 12 months ago, by 5%.

This is despite losing all sales for the two weeks after the Fairfax Media/4 Corners TV program, the 17 weeks of lagging sales that followed and the $8 million-plus in extra advertising and marketing it invested to get back on track.

The buoyant result is largely due to their FY18 new development pipeline which brought on 565 new homes. Existing homes are still a challenge for the group.