Lifestyle Communities

Lifestyle Communities Limited advises new home settlements for FY23 are expected to be in the range of 355 to 365 and the company maintains its previous guidance of delivering between 1,100 to 1,300 and 1,400 to 1,700 new home settlements between FY22 and FY24 and FY23 and FY25 respectively.

Lifestyle Communities provided their half year result this week revealing a net profit after tax of $25.3 million, compared to $27.5 million in the same period last year.

Lifestyle Communities Limited has agreed terms with CBA, NAB and HSBC to increase its debt facility by $150 million from $375 million to $525 million.

Lifestyle Communities settled 401 new homes in FY22 increasing its homes under management to 3,193 and lifting underlying profit by 69%.

Lifestyle Communities has finalised the year-end valuation process for its portfolio of 26 communities showing a $92.6m increase on the prior year.

Lifestyle Communities provided an update on its March quarter saying that their delivery programme was on track despite supply chain constraints.

Lifestyle Communities Limited delivered 166 new home settlements, 68 resales settlements, and executed contracts to purchase three new parcels of land during the first half of FY22

Lifestyle Communities Limited has acquired a site in Mickleham, Victoria for its latest community.

Lifestyle Communities has executed a contract  to purchase a site located on Phillip Island, in the township of Cowes, which will be the company's 24th community.

Lifestyle Communities results issued this week show that the REIT has been affected by COVID induced movement restrictions, border closures and general caution amongst it usual customers base.