Mirvac Group (MRVGF), a real estate development company, reported a sharp increase in profit for the half year, driven by higher revenue, improved contributions from joint ventures, and the absence of prior-year revaluation losses on investment properties.
Profit before tax rose to 331 million from 7 million in the previous year, which included a revaluation loss of A$158 million.
Net income attributable to stapled securityholders rose sharply to 319 million or 8.1 cents per share from 1 million a year earlier.
Operating profit after tax was A$248 million or 6.3 cents per stapled security (cpss), up from A$236 million or 6 cpss a year ago.
Revenue for the period increased to A$1.301 billion from A$1.131 billion in the previous year, while total revenue and other income increased to A$1.511 billion from A$1.273 billion.
Distributions were 4.7cpss, reflecting a payout ratio of 75 per cent.
Net Tangible Assets per security was A$2.30, down from A$2.31.
Looking ahead to fiscal 2026, the company has confirmed its operating earnings guidance of 12.8 to 13.0 cents per stapled security, and a distribution of 9.5 cents per stapled security.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.