Nov 22, 2021 / 10:00PM GMT
Operator
Thank you all for standing by, and welcome to the Arvida Group Investor Conference Call. (Operator Instructions)
I'd now like to hand the conference over to your speaker for today, Mr. Jeremy Nicoll, CEO. Thank you, Jeremy. Please go ahead.
Jeremy Nicoll - Arvida Group Limited - CEO
Thanks, Tara. Good morning, everyone, and welcome to Arvida's Half Year Results Conference. We've recorded a net profit after tax of $75.5 million for the half. The large contributor to that was the increase in the fair value of our investment property. Our underlying profit was up $6 million on the same period last year to $26.6 million.
The underlying profit does include the impact of some COVID-related costs in relation to our staff and how we've managed the lockdown process through August and September. As well as it's reduced slightly by some deferral of particularly resale settlements as we were unable to complete those during lockdown or the refurbishment of some of the units was deferred.
So very pleased to be able to report an increase from the
Half Year 2022 Arvida Group Ltd Earnings Call Transcript
Mar 28, 2024
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