REAL ESTATE INVESTMENT TRUSTS & FUNDS

Peet tips strong turnaround

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PEET is expecting notable improvements to its 2021 full-year operating profit and statutory profit.

The group has entered the new financial year with solid sales momentum and contract on hand, and is well-positioned to target growth on FY21 earnings.

It said it expects its 2021 operating profit and statutory profit to fall in the range of $27.5 million to $29.0 million, above last year’s operating profit of $15.1 million and statutory loss of $30.1 million.

Improving market conditions and government stimulus underpinned the group’s more promising first half result

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