Finbar Group (FRI) H2 2025 earnings summary

Executive summary

• Celebrated 30 years as Western Australia’s largest apartment developer, with 79 developments and 7,400 units completed to date.

• Leadership transition completed, with Ronald Chan appointed CEO and a refreshed executive team in place.

• Strategic focus remains on premium inner-city residential projects and sustainable returns.

Financial highlights

• Total revenue for FY25 was $284.5 million, up from $194.3 million in FY24 (46% increase year-over-year).

• Total comprehensive income was $14.4 million, down from $16.4 million in FY24, mainly due to office asset revaluations.

• Underlying comprehensive income (excluding property revaluations) rose 16% to $16.17 million.

• Cash position at year-end was $36.4 million; debt reduced to $56.7 million.

• Final fully franked dividend of 2.0 cents per share declared.

Outlook and guidance

• Robust five-year development pipeline exceeding $1 billion in end value.

• Market outlook remains positive due to ongoing housing undersupply in Perth, especially in apartments.

• Focus on sustainable development and innovative design to address environmental concerns and cost efficiencies.