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Mirvac Group ( (AU:MGR) ) has shared an update.
Mirvac Group reported a strong interim result for the first half of fiscal year 2025, with an operating profit of $236 million and maintaining a distribution of 4.5 cents per stapled security. The company demonstrated significant progress in its strategic initiatives, including a 51% increase in residential lot sales, completion of new developments, and expansion in the living sector. Mirvac’s robust balance sheet and strategic capital initiatives have positioned it for future growth, with a committed development pipeline expected to deliver substantial operating income and development value. The company maintained high occupancy rates across its portfolios and captured positive rental reversions, despite challenges in asset valuations.
More about Mirvac Group
Mirvac Group is a leading Australian property group with operations spanning residential, office, retail, and industrial sectors. The company is known for its development and investment in high-quality properties, with a focus on urban and master-planned communities, build-to-rent assets, and industrial estates.
YTD Price Performance: 7.46%
Average Trading Volume: 56,109
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.01B
See more data about MGR stock on TipRanks’ Stock Analysis page.
