Devine Limited reported earnings consolidated results for the six months ended June 30, 2016. For the period, the company reported revenue of AUD 93.406 million against AUD 96.329 million a year ago. Loss from continuing operations before income tax was AUD 27.314 million against profit of AUD 0.93 million a year ago. Loss from continuing operations after income tax was AUD 28.704 million or 18.1 cents per share against profit of AUD 2.391 million or 1.5 cents per share a year ago. Loss for the half year was AUD 28.615 million or 18.0 cents per share against profit of AUD 0.902 million or 0.6 cents per share a year ago. The loss before tax is due primarily to the impairment of inventory within the communities business, a settlement within the development business and the timing of project completions in the construction business. Net cash outflow from operating activities was AUD 10.147 million against net cash inflow from operating activities of AUD 31.39 million a year ago.

The company maintained its outlook for a full year 2016 result of a loss before tax of approximately AUD 35 million for the full year to December 2016.