Desane : Profit Guidance

About this update from Desane Group Holdings Ltd

ASX and Media release 6 February 2017 ABN 61 003 184 932 68-72 Lilyfield Road, Rozelle NSW 2039 PO Box 331, Leichhardt NSW 2040 T: +61 2 9555 9922 F: +61 2 9555 9944 www.desane.com.au ASX Code: DGH PROFIT GUIDANCE FOR THE SIX MONTHS ENDED 31 DECEMBER 2016 Desane Group Holdings Limited wishes to advise that it expects to report earnings before interest and tax (EBIT) in the range of $3.6 million to $3.8 million for the six months ended 31 December 2016. This is subject to Board consideration and completion of the audit review. The EBIT for the previous corresponding period was $4.5 million, which included a non‐ recurring development profit of $3.9 million. The key performance drivers for the 31 December 2016 half yearly period have been: Strong performance of the Lane Cove property assets; and Diligent management of expenditure across the Group. Detailed information regarding the operational performance of Desane will be provided to the market with the release of Desane's audited financial results for the six months ended 31 December 2016. Following the finalisation of the financial statements, completion of the audit review and consideration by the Board of Directors, Desane expects to announce its December 2016 half yearly results by Tuesday, 21 February 2017. FOR FURTHER INFORMATION, PLEASE CONTACT: Phil Montrone Managing Director & CEO Desane Group Holdings Limited (02) 9555 9922 [email protected] Jack Sciara Company Secretary Desane Group Holdings Limited (02) 9555 9922 [email protected] ABOUT DESANE: Desane Group Holdings Limited is a property investment and development business based in Sydney, with expertise in property acquisitions, investment, management, leasing, sales and development of industrial, commercial and residential properties. Desane has a disciplined "add value" property acquisition approach, which will deliver maximum shareholder value in the medium to long term. 1

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