Despite forecasting a profit growth in excess of $40 million for the 2008 financial year, Western Australian property developer Port Bouvard Ltd has reported an 88 per cent slump in net profit to $3.2 million.

Despite forecasting a profit growth in excess of $40 million for the 2008 financial year, Western Australian property developer Port Bouvard Ltd has reported an 88 per cent slump in net profit to $3.2 million.