Subdued Performance in FY 18: Cedar Woods Properties Limited’s (ASX: CWP) stock rose 0.48% on August 22, 2018 after the company announced about expecting strong uplift in net profit in FY19. Meanwhile, for FY 18, CWP reported 6.3% fall in NPAT and gross margin contracted by 4 per cent to 41 per cent due to the changing product mix, Western Australian market conditions and the commencement of new projects, that have lower margins in the initial stages but are expected to improve over time.
Additionally, the company’s presales for FY19 and FY20 stand at more than $320 million (excluding the $58 million presale of Target) compared to $260 million at the same time last year. In addition, CWP has declared a fully franked final dividend of 18.0 cents per share, which brought the total dividends for FY18 to 30.0 cents per share. On the other hand, CWP stock has risen 10.12% in one month as on August 21, 2018 and is trading at a P/E of 10.71x.
The Income available from dividends remains attractive for many investors.
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