Devine Limited reported consolidated earnings results for the half year ended December 31, 2012. For the period, the company has posted operating pre-tax profit of $6.1 million compared to $10.4 million for the December 2011 period. Profit after tax was $4.2 million against $7.3 million a year ago. The company has maintained a strong balance sheet and a positive operating cash flow surplus of $30 million with gearing at 23% at the end of the half, down from 28% at June 30, 2012. The group reported total revenue from operations of $173 million and additional revenue of $34.5 million which includes devine's share of revenue from the settlement of apartments at its Hamilton Harbour joint venture development. Basic and diluted per share was 2.6 cents against 4.6 cents per share a year ago. Payment for property, plant and equipment was $0.247 million against $0.250 million a year ago. Payment for investment in joint ventures was $5.39 million against $15.72 million a year ago. Payments for investment in land inventory $12.42 million against $6.89 million a year ago.

Directors re-confirm the guidance provided at the company's AGM in November 2012 which is for a profit before tax of approximately $10 million for the 2012/13 year.