Finbar Group (FRI) H1 2026 earnings summary

Executive summary

• Achieved 1H26 NPAT of $10.6M, up 12.9% year-over-year, with underlying NPAT at $12.0M, and total comprehensive profit attributable to owners was $10.6M for the six months ended 31 December 2025.

• Maintained 30 consecutive years of profit and a 100% project delivery success rate, with 79 completed developments and 7,407 units delivered.

• Principal activities remained focused on property development and investment, primarily in Western Australia.

• No significant changes in the nature of activities or material subsequent events were reported.

• Record 1H26 sales of 409 lots valued at $368M, up 297% year-over-year.

Financial highlights

• Revenue for 1H26 was $109.4M, down 50% year-over-year due to fewer project completions.

• Gross profit was $24.0M, down 5% year-over-year; operating profit rose 12% to $15.5M.

• Net profit after tax was $10.6M, up from $9.4M year-over-year.

• Basic and diluted EPS were 3.89 cents, up from 3.44 cents per share.

• Cash and term deposits increased 89% to $68.9M; cash and cash equivalents increased to $44.6M from $36.4M as at 30 June 2025.

• Bank debt reduced by 39% to $30.5M; loans and borrowings reduced from $50.3M as at 30 June 2025.

• NTA per share rose 2% to 93.4 cents.

• Earnings per share increased 13% to 3.89 cents.

Outlook and guidance

• FY26 projected NPAT is $18M–$22M, representing ~40% growth from FY25, subject to project completions.

• Five-year development pipeline valued at $1.8B with over 1,900 lots.

• Key deliverables include completion of Bel-Air Apartments (2H26), Garden Towers (1H27), and Riverbank Residences (2H27).

• Palmyra West Apartments project launched in December 2025; Romeo project launch set for March 2026.

• Interim dividend of 2.5 cents per share (franked) proposed, payable 10 April 2026.