Cedar Woods Properties reported a record net profit after tax of AUD 65.6 million for the fiscal year ended June 30, a 36% increase from FY2025, as revenue climbed 8% to AUD 502 million. Earnings per share rose 33% year-over-year, while dividends per share increased 34%.
Gross margin improved by 200 basis points to 30%, supported by disciplined cost management and a 15% return on equity. Total assets reached AUD 884 million, up AUD 26 million from the prior year, with net assets and equity rising 11%. Group debt stood at AUD 157.7 million at year-end, with gearing at 18% on a net bank debt to total tangible assets basis, well below the facility covenant of 2 times interest cover.
Sales activity strengthened, with 1,521 lots, homes and offices sold, up 5% from FY2025. Net sales contracts totaled 1,326, while settlements reached 1,068 dwellings and residential lots. The company’s development pipeline includes 36 projects across four states, representing over 9,600 lots, apartments and commercial opportunities. Inquiries surged 25% to more than 30,000, while total pre-sales hit a record AUD 830 million at year-end.
More than 90% of targeted FY2027 revenue, equivalent to roughly AUD 540 million, is already contracted. Pre-sales for FY2028 and FY2029 total around AUD 290 million, with about 75% of these unconditional. Six sites were acquired during the year, adding 1,184 lots to the portfolio.
Shares in Cedar Woods jumped 9.44% to close at AUD 7.88, extending gains from the prior session’s AUD 7.20 close. The stock has traded between AUD 6.33 and AUD 9.20 over the past 52 weeks.
Management guided FY2027 NPAT growth of 15%, targeting around AUD 75 million, with gross margins expected to remain near 30%. Gearing is projected to rise to about 20% by FY2027, absent major acquisitions. Nathan Blackburne, managing director, noted the company’s disciplined approach to large-scale residential development, while CFO Leon Hanrahan emphasized conservative leverage and strong liquidity. Minor increases in administrative costs are anticipated for FY2027 due to IT and systems investments.
