Keyton has reported a profit of $146 million for FY25, up 14.1% on the $128 million achieved the previous year, according to results released by part-owner Lendlease on Monday (18 August).
Keyton CEO Nathan Cockerill said the result reflected strong growth, with 1,290 units now completed or under construction since the business rebranded in May 2023.
Lendlease, which holds a 25.1% stake in the operator alongside Aware Super (49.9%) and APG Asset Management (25%), also wrote down the net book value of its investment in Keyton to $556 million, from $573 million a year earlier.
Over the past year, Keyton has been named preferred partner for the redevelopment of Cronulla RSL in Sydney and announced plans for a new retirement village, Verso Place, in Vermont South, Melbourne.
Lendlease itself reported a $225 million net profit for FY25, a turnaround from its $1.5 billion loss the previous year.
