Business positioned for expansion, surpassing FY24 expectations

Ingenia Communities Group (ASX: INA) reported a convincing performance for FY24, with revenue reaching AU$472.3 million, a 20% increase from FY23, and EBIT rising 17% to AU$125.7 million, underlying profit increased by 14% to AU$94.8 million.

The company achieved 462 new home settlements, a 24% rise year-on-year while maintaining a solid development pipeline of over 5,300 sites. Ingenia’s Lifestyle Rental portfolio benefitted from CPI-linked rent increases, resulting in full-year EBIT growth of 14%. The Group declared a final distribution of 6.1 cents per stapled security, contributing to an annual distribution of 11.3 cents, a 3% increase from FY23, reflecting the company’s positive operational outlook and focus on growth.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com