Peet & Co targets 10% lift in profit to $35m in 05-06

Western Australian property developer Peet & Company Ltd has issued a profit forecast for the current financial year of almost $35 million, a 10 per cent increase on the previous year.

The dividend payout target has also been lifted to 70-75 per cent.

Peet & Co managing director Warwick Hemsley said the target is based on a continuation of present market conditions.