Finbar Group Limited reported a 40% year-on-year rise in full-year net profit to AUD 20.3 million for FY2026, driven by a 92.8% jump in pre-sales despite a 28.2% decline in revenue to AUD 204.3 million.
Underlying net profit before revaluation effects reached AUD 22.1 million, while earnings per share climbed 40% to AUD 0.074. Gross profit increased 20% to AUD 41.2 million, maintaining a 20.2% margin. Operating profit rose to AUD 27.5 million from AUD 21.3 million a year earlier, supported by a 72% reduction in borrowings following debt repayments.
The company declared a fully franked dividend of AUD 0.03, bringing the total payout for FY2026 to AUD 0.055 per share, yielding 2.22% at its closing price of AUD 0.735. Cash and term deposits grew 40% to AUD 50.7 million, while net tangible assets per share edged up 2.2% to AUD 0.945.
Pre-sales surged to a record AUD 567 million, split between AUD 495 million in off-the-plan contracts and AUD 71 million in completed stock. Total sales volume reached 566 lots worth AUD 528.8 million, with an average sales rate of 1.4 units per day—a 126% increase from the prior year. Settlements totaled 287 lots for AUD 263.7 million, while the development pipeline expanded to AUD 1.9 billion across 1,700 units following the acquisition of the Ascot site.
Investor activity accounted for 58% of sales in Q2, while first-home buyers represented 14% of activity, supported by projects such as Palmyra West, where units averaged AUD 730,000. Repeat buyers contributed 28% of sales, peaking at 50% for the Romeo project.
Key projects nearing completion include Garden Towers in East Perth, valued at AUD 296 million with 342 units, 81% of which are sold. Settlements are scheduled for the first half of 2027, with practical completion due in October 2026. The Parkside project in Rivervale, featuring 108 units valued at AUD 73 million, is set for launch within weeks.
Longer-term developments include the Leederville Residences, valued at AUD 266 million with 244 residential units and two commercial spaces, targeted for a November 2026 launch and completion by FY2029. The Romeo project, commencing construction in September 2026, is 60% sold with AUD 90 million in remaining value.
Finbar Group, listed on the ASX since 1995, has delivered 80 completed apartment projects totaling over 7,600 units worth AUD 4.5 billion. The company’s share price rose 7.3% to AUD 0.735, trimming its year-to-date loss to 18.3% while trading 11.4% above its 52-week low.
