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Ingenia Communities Group ( (AU:INA) ) has provided an announcement.
Ingenia Communities affirmed its full-year guidance at the top of its range after a solid first half, with underlying profit of $62.1 million and statutory profit up 11% to $97.4 million, despite a 10% fall in underlying EPS due to a second-half skew in home settlements, higher interest costs and the absence of certain income streams. Revenue was flat at $257.3 million and EBIT eased 1% to $85 million, but the group settled 248 new homes, maintained home sales pricing and margins, and grew Lifestyle Rental and Holidays EBIT by 6% and 10% respectively, underpinning expectations of stronger second-half development activity from a 4,946-site pipeline and supporting cash generation, distributions and long-term scale in its land lease and holiday communities.
Management said operational momentum remains strong with high residential and improving holiday occupancy, 13 active projects in market and eight more commencing this year, and a sharpened operating model delivering productivity gains and financial discipline. Ingenia reported gearing and hedging within target ranges and flagged that lower-growth assets have been identified for potential recycling, positioning the group to fund accelerated development, enhance returns and execute on its five-year plan for 10–15% compound growth in settlements.
The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.
More about Ingenia Communities Group
Ingenia Communities Group is an Australian listed owner, developer and operator of lifestyle, rental and holiday communities, focused on land lease and affordable living. Its portfolio spans lifestyle rental villages, residential communities and holiday parks, generating core recurring rental income and development-driven growth from an extensive pipeline of land lease development sites.
Average Trading Volume: 957,862
Technical Sentiment Signal: Hold
Current Market Cap: A$1.87B
See more insights into INA stock on TipRanks’ Stock Analysis page.