GemLife Communities Group reported a 102% year-over-year rise in underlying net profit after tax to A$58.5 million for the six months ended June 30, 2026, as revenue climbed 86% to A$195.1 million. Underlying earnings per share more than doubled to 15.4 cents, while EBIT increased 89% to A$68.3 million.
The land lease community operator attributed the performance to a 75% increase in home settlements to 208 units, generating A$182.2 million in revenue. The average home sale price rose 10% to A$876,000, with 89 of the 208 settlements falling in the A$800,000 to A$900,000 range. Development margins expanded to 43.0%, up from 41.9%, while home build margins remained steady at 49.9% for the eighth consecutive year.
Community operations contributed A$24.8 million in annualized site-rental income, a 29% compound annual growth rate over four years. The average weekly site fee increased 6.4% to A$215, excluding GST. Occupied homes totaled 2,324 as of June 30, reflecting a 24% compound annual growth rate over 3.5 years.
Balance sheet metrics showed total assets rising to A$1.76 billion, with investment properties accounting for A$1.55 billion. Net assets increased to A$1.07 billion, while borrowings climbed to A$577.8 million. Liquidity stood at A$160 million, and the gearing ratio was 32.3%, within the 25% to 35% target range.
Management raised full-year underlying EPS guidance to 30.0 to 31.0 cents, up from the prior range of 28.5 to 30.0 cents. The company maintained a target of more than 420 home settlements for FY26, with six new communities scheduled to commence settlements in the second half. The sales pipeline totaled 370 homes as of June 30, a 50% increase from year-end 2025.
GemLife also highlighted progress on innovation initiatives, including the GemForm Structures factory for Structural Insulated Panels and Australia’s first vertical land lease community at Currumbin Waters. The company received Great Place to Work certification for 2026/2027 and launched a construction skills training center with A$50,000 in CSQ funding.
