The listed operator has reached its FY17 target of 190 new home settlements across its Land Lease Communities (LLC’s), putting it on track to deliver its promised FY17 EBIT result of $30M.
CEO Simon Owen says he now expects FY18 settlements to be around the 260 to 280 mark, with an EBIT guidance of $42 to $46M.
The average sale price for settled homes for FY17 was over $300,000 – an average gross profit of around $100,000 per home – with May the strongest month with 34 new home sales.
It all points to a solid bottom line for Ingenia in FY18, with four new greenfield sites and expansion projects due to launch.
