Ingenia Communities Group (ASX:INA) benefit from ease of restrictions

Company News

by Rachael Jones

Ingenia Communities Group (ASX:INA) reports that they are continuing to benefit from recurring revenue streams from a stable rental base of 4,000 income producing sites, largely underpinned by Commonwealth Government pension payments and rent assistance.

The Group is Ingenia’s seniors rental (Ingenia Gardens) and Ingenia Lifestyle communities have continued to provide uninterrupted cash flows, with Ingenia Gardens’ occupancy reaching an all-time high of over 93.5 per cent.

The Group’s holiday parks will now be open for the upcoming school holidays, with NSW parks also open for the June long weekend after recent announcements by the NSW and QLD Governments advising that holiday parks are able to open from 1 June and 12 June.

Shares in Ingenia Communities Group (ASX:INA) are trading 0.25 per cent higher at $4.09.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.