Cedar Woods Properties reported a record net profit after tax of A$65.6 million for the fiscal year ended June 30, 2026, a 36% increase from FY25, as revenue rose 8% to A$502.4 million.
Earnings per share climbed 33% to 77.9 cents, while the dividend per share increased 34% to 39.0 cents, marking the company’s 33rd consecutive year of dividend payments. Gross margin expanded to 30% from 28%, and finance costs declined to A$9.1 million from A$15.3 million. Net bank debt rose to A$157.7 million, with gearing at 18% on a net bank debt to tangible assets basis.
The company sold 1,326 lots, homes, and offices and completed 1,068 settlements during FY26, while gross sales reached a record 1,521 lots and homes, up 5%. Enquiries surged 25% to 30,137, supported by presale contracts totaling A$830 million as of June 30, 2026. Over 90% of targeted FY27 revenue is already secured, with presales exceeding A$290 million for FY28 and FY29.
Cedar Woods operates a portfolio of more than 9,600 lots and apartments across 36 projects in four states, with Western Australia accounting for 33% of the pipeline. Owner-occupiers represent 70% of presales, including 37% from first-home buyers. The company acquired six sites in FY26, adding 1,184 lots, including a A$15.55 million purchase in Western Australia.
For FY27, Cedar Woods set a net profit after tax growth target of 15%, projecting NPAT of approximately A$75 million. Managing Director Nathan Blackburne highlighted the company’s disciplined development approach and consistent earnings growth. Chief Financial Officer Leon Hanrahan noted conservative gearing at 18% and strong liquidity.
The company’s share price rose 9.72% to A$7.90 following the results, with a forward P/E ratio of 8.1 times and a fully franked dividend yield of 6.2%.
