AV Jennings lifts profit guidance

AV Jennings has lifted its full year profit guidance after a number of project stages were completed ahead of schedule, despite poor weather in NSW.

House and land packages group AV Jennings has lifted its full year profit guidance after completing a number of projects ahead of schedule.

AV Jennings expects its pre-tax profit for 2014/15 to be $47 million or higher, which is above the $40 million result it flagged in May.

The company said the improved result was due to a number of project stages being completed in June, which was earlier than expected, although it also said its performance had been weighed down by adverse weather in NSW.