Villa World Ltd Joint Venture with Greenfields
Joint Venture with Greenfields:Villa World Ltd (ASX: VLW) in joint venture with Greenfields Development Company, has agreed to the unconditional purchase of a 153-hectare site at Greenbank, south of Brisbane at the purchase price of $50 million (exclusive of GST) with settlement anticipated to occur in stages during FY18 and FY19. Moreover, VLW has resolved the Silverstone litigation between all parties for the resolution of the proceedings. On the other side, VLW has reported a 32% increase in the statutory profit after tax to $33.7 million in FY 16 and 19% increase in the earnings per share to 30.6 cents.
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