ASF books 1H profit

DEVELOPER ASF Group has lodged a 220 per cent first-half profit increase.

It comes off the back of a $9.08 million State Government settlement over the failed $3 billion integrated resort bid at the Spit.

In its half-year results, the company announced a 39.1 per cent increase in revenue to $589,000 and after tax profit of $6.97 million.

The results follow a loss of $5.795 million for the same period last financial year.

ASF said the sale and marketing of its Hope Island development continued to provide revenue, with commissions totalling $367,000 for the sixmonths.