Lifestyle Communities (ASX:LIC) first half results driven by 109 new home settlements

Company News

by Rachael Jones

Lifestyle Communities (ASX:LIC) achieved a net profit after tax attributable to shareholders of $15.1 million for the first half of the 2020 financial year, compared to $21.9 million in the same period last year.

The result for the first half of FY20 was driven by 109 new home settlements: down from 186 in the same period last year.

As per previous guidance, settlements for FY20 will be weighted to the second half due to commencement of settlements at Lifestyle Mount Duneed in December 2019 and Lifestyle Kaduna Park in May 2020.

Shareholders will receive an interim fully franked dividend of 3.0 cents per share, from 2.5 cents per share for the same period in the prior year.

Shares in Lifestyle Communities (ASX:LIC) are trading 3.63 per cent lower at $9.30.