Highlights
- EBIT of $32.1 million, up 32.6% on prior year, reflecting strong sales momentum and growing rental inflows
- Record 211 new home settlements - up 97% on FY16
- Revenue of $149.9 million, up 40.0% on FY16
- Statutory Profit of $26.4 million, 8.6% above FY16
- Operating cash flow of $30.3 million, up 44.3% on FY16, driven by accelerating development and rental income
- Business well positioned for further strong growth – confirm FY18 guidance for EBIT of $42-46 million and 260 - 280 new home settlements
Ingenia Communities Group (ASX:INA) today announced Underlying Profit of $23.5 million for the year ending 30 June 2017, an increase of 16.3% on the previous financial year. Statutory Profit of $26.4 million is up 8.6% on the prior year, the result tempered by the $7.6 million loss recorded on the sale of the majority of the Group’s DMF retirement assets in October 2016.
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