Despite industry-wide supply chain and labour challenges, Ingenia Communities has increased its sales across LLCs, rental villages and holiday parks by 8% in the financial year and to a new record high of 409 sales.
In a sales and guidance update to the ASX last Friday, the Sydney-based owner/operator also said its settlements pipeline (449 deposits and contracts) is up 42% on 30 June 2021.
Ingenia Communities stated its FY22 financial result is anticipated to be at the lower end of the Group’s guidance range (EBIT growth of 5-10%), underpinned by the achievement of the Group’s settlements target and strong performance across the operating business.
“We have an underlying base of consistent and diverse earnings across the operating business which has increased in scale and contribution over the past 12 months,” CEO Simon Owen said.
Ingenia Communities owns 95 communities across its portfolio, has five greenfield lifestyle community developments owned through a development Joint Venture with Sun Communities, and nine established communities through the Group’s managed funds.
A total of 409 homes were settled across Ingenia (353) and Joint Venture (56) projects, with a further 17 homes settled in the funds business.
