Lifestyle Communities Announces Diverse FY24 Results

Lifestyle Communities Ltd (AU:LIC) has released an update.

Lifestyle Communities Ltd reported a decreased FY24 operating profit after tax of $52.9m, down from $71.1m the previous year, due to lower new home settlements and higher marketing costs, despite a 16% rise in annuity income. The company declared a final dividend of 5.0 cents per share, resulting in a total of 10.5 cents per share for the year. Amidst a soft residential market and negative media coverage, the company’s FY25 focus includes balance sheet strength, disciplined cost management, and adjustments to the land acquisition and building programs.

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