Winton Land Ltd reported a more than doubling of net profit after tax to NZD 22.7 million for the financial year ended June 30, 2026, from NZD 10.3 million a year earlier, as revenue increased 21.5% to NZD 188.8 million. Gross profit rose 28.7% to NZD 85.7 million, lifting the gross margin to 45.4% from 38.3% in FY25.
The company’s EBITDA more than doubled to NZD 45.6 million, while basic earnings per share increased to NZD 0.0764 from NZD 0.0346. Net assets per share climbed to NZD 186.90, up from NZD 186.90 previously, and borrowings were reduced to NZD 44.2 million from NZD 99.4 million. Operating cash flow surged 246% to NZD 105.9 million.
Residential settlements rose 61.7% to 430 units, though average revenue per unit declined to NZD 344,000 due to a higher proportion of land lots. Hospitality revenue jumped 69.4% to NZD 35.8 million, driven by full-year operations at Ayrburn venues and the February opening of the Bravo at Cracker Bay restaurant. Commercial revenue increased by NZD 15.2 million.
The company’s market capitalization stood at $244.66 million, with shares trading at a P/E ratio of 41.65. Winton’s stock fell 6.78% to $1.10, near the bottom of its 52-week range of $1.10 to $2.27.
Winton maintained a landbank of approximately 5,400 units yet to be delivered, including 857 retirement living units across 22 projects in 11 master-planned communities. The company also highlighted progress on several key developments, including the Northbrook Wānaka wellness spa and the Sunfield master-planned community in South Auckland, where an Auckland Council appeal against expert panel approval is scheduled for September 15–16.
Leadership changes were noted, with Steven Joyce resigning as chair and director, while Chris Meehan stepped down as CEO and chair on July 5, 2026. Julian Cook assumed an expanded interim role to support senior leadership. The company expects further revenue and EBITDA growth in the coming years as Ayrburn venues stabilize.
