SUNLAND Group Ltd (ASX: SDG) has delivered a healthy rise in profit over 2014 and the company is gearing up for markedly higher earnings in the year ahead.

The Brisbane-based developer of the Q1 and Palazzo Versace hotel on the Gold Coast has posted a net profit of $14.3 million, up 5 per cent on the previous year and better than previous forecasts for a $13-14 million result.

A return to the high rise market is expected to see the bottom-line figure rise to around $20 million in the current year thanks to a surge in 2014 sales that have yet to settle.

Sunland, which has started construction on the 40-level Abian residential tower overlooking the Botanic Gardens in Brisbane’s CBD, managed to lift profit despite a 0.7 per cent fall in revenue to $187.9 million for the 12 months to the end of June.

Full story here http://www.goldcoastbusinessnews.com.au/articles/sunland-gearing-for-high-rise-boom.html