Ingenia

Ingenia Communities Group (ASX:INA) today announced the outcome of the Group’s 30 June valuations and final home settlements delivered across the Group in FY23.

Ingenia Communities Group announced underlying profit of $34.8 million, up 24% on the prior year, as the business benefitted from a growing revenue base.

Ingenia Communities Group have lowered guidance to the lower end of their previous range as building conditions fail to keep up with demand.

Ingenia Communities Group have acquired a development project in Melbourne and exchanged contracts for a development project in Cairns, providing potential to build >420 land lease homes across the two sites.

Ingenia Communities Group, has sold two Ingenia Gardens rental communities and an inland regional holiday park, consistent with the Group’s focus on divesting non-core assets and recycling capital to fund development.

Ingenia Communities Group announced that their FY22 results are anticipated to be at the lower end of the Group’s guidance range as construction constraints slow delivery.

Ingenia Communities Group have announced a reduction in earnings for FY22 as a results of cost pressures across the industry

Ingenia Communities Group announced Statutory Profit of $39.8 million for the half year ending 31 December 2021, an increase of 23% on the previous corresponding period however Underlying Profit was down 14% to of $28.1 million, with new home settlements impacted by supply chain challenges.

Ingenia Communities Group have completed the acquisition of Oakland Village, a partially developed community that was included in the $552 million of acquisitions identified with the Group’s $475 million equity raising announced on 1 November 2021.

Ingenia Communities Group today announced that the Group has exchanged contracts to acquire the BIG4 Beacon Resort for $37m.

Ingenia Communities Group has completed a $475m capital raising to partially fund the acquisition of 20 high quality communities and development sites worth $525m

The Ingenia Communities joint venture with US based Sun Communities has secured its fourth acquisition - a 13.5ha, DA approved greenfield site on the Sunshine Coast.

Ingenia Communities delivered it FY21 results announcing a profit growth of 31% as demand for affordable land lease housing continue to build.

Ingenia Communities Group today announced further expansion of the Group’s lifestyle and holidays business with the acquisition of an award-winning mixed-use community on the NSW South Coast

Ingenia Communities Group announced that the Group’s FY21 result would exceed guidance, as a result of strong performance across the operating business.