The listed rental village operator has bounced back from its falls in profits in 2017 and 2018, declaring an increase in its NPAT for the six months to 31 December 2019 from $2.83 million in 2018.

The Group’s EBITDA was $6.77 million for the same period, up from $4.38 million in 2018.

The result was boosted by further divestment of its non-performing assets including 16 units at its site in Terranora, NSW site, plus residential properties in QLD and SA, while a solar energy program is expected to add long-term value to its villages.

Occupancy has also increased to 94% (from 92% in 2018) across its portfolio of 2,043 units, with Eureka maintaining its full year guidance of between $8 and $8.2 million.

While the operator says it is still maintaining a “prudent” approach to expansion, it also has several acquisition and development opportunities under review.

Pictured: Eureka’s long-term strategy from September 2019.