Winton Group reported a more than twofold increase in net profit for the fiscal year ended June 30, 2026, driven by higher residential settlements and expanded hospitality operations. Net profit after tax reached NZD 22.7 million, up from NZD 10.3 million a year earlier, while revenue climbed 21.5% to NZD 188.8 million from NZD 155.4 million. Gross profit rose to NZD 85.7 million, lifting the gross margin to 45.4% from 38.3% in FY2025.
The company’s residential segment generated NZD 147.8 million in revenue, while hospitality revenue surged 69.4% to NZD 35.8 million. EBITDA more than doubled to NZD 45.6 million, and basic earnings per share increased to NZD 0.0764 from NZD 0.0346. Residential unit settlements rose 61.7% to 430 units, with 89% of volume attributed to land lots. Average revenue per unit declined to NZD 344,000 due to the higher land lot mix, down from NZD 489,000.
Winton’s cash position improved to NZD 38.8 million, while borrowings fell to NZD 44.2 million from NZD 99.4 million. Net operating cash flow increased by NZD 63.6 million to NZD 105.9 million, though investing outflows narrowed to NZD 21.7 million. The company maintained its dividend pause to preserve financial flexibility.
Shares in Winton fell 6.78% to $1.10 following the results, leaving the stock near the bottom of its 52-week range of $1.10 to $2.27. The company’s P/E ratio stood at 41.65, while its net assets rose to NZD 555.4 million, or NZD 186.90 per share.
Leadership changes coincided with the results, as CEO and Chair Chris Meehan, along with Chair Steven Joyce and Director Guy Fergusson, resigned on July 5, 2026. Julian Cook, Executive Director of Retirement, assumed an expanded interim role. The company cited ongoing market uncertainty, noting that residential property demand is unlikely to recover substantially until unemployment peaks.
Operational updates included the February opening of Bravo at Cracker Bay and the Northbrook Wānaka wellness spa, as well as the May launch of the Goodfellows lifestyle village. The Sunfield project remains under legal appeal, with a High Court hearing scheduled for September 15 and 16. Future developments include the 2027 opening of Northbrook Wānaka’s stage 2 and the October 2026 full market launch of Goodfellows at Lakeside Te Kauwhata.
