That’s an increase of 32.6% on the previous year, while their new home settlements hit 211 – a huge 97% increase on FY16 and well above their original guidance for FY17.
In total, their underlying profit was $23.5M, a rise of 16.3% on the previous financial year.
Ingenia CEO Simon Owen says they now plan to target 260 to 280 settlements in FY18 and 350-plus in FY19 with eight new greenfield or expansion development projects with 2,473 new homes in the pipeline for the next 14 months.
As we covered here, Ingenia raised $74.1M back in May to fund new acquisitions and key developments. With their EBIT guidance now $42M to $46M for FY18, they seem well on target.