House and apartment developer Devine appears to be benefiting from a stronger housing market, lifting its annual profit forecasts.
House builder Devine has lifted its profit forecast as it locks in new development projects.
The company, which builds houses and apartments in Queensland, Victoria and South Australia, expects its profit for 2014 to be between $12 million and $14 million.
Its previous forecast was a range of $7 million to $10 million.
Chief executive David Keir said $110 million from asset sales had allowed Devine to negotiate several new developments.
In the first four months of the year, Devine had already achieved 70 per cent of its annual home construction starts, and 80 per cent of its apartment settlement target.