HomeBuilder delays dampen profit growth at Tamawood

Listed home builder Tamawood lifted interim profit 78 per cent to $3.159 million in the six months to December as it benefited from stronger sales due to the federal government’s $25,000 HomeBuilder grant.

However, its profit before tax of $4.5 million fell short of the $5 million figure forecast in October, due to delays in HomeBuilder project starts, making it harder for Tamawood to restore a full-year dividend of 27¢ and return to the profitability of the 2018 financial year (profit before tax of $11.4 million).