GemLife Communities post 13.4% decline in full-year profit amid stamp duty costs
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The news: Luxurious retirement village developer GemLife Communities reported full-year statutory net profit after tax of $48.2 million, down 13.4% from the year prior, citing costs related to IPO, stamp duty and additional interest prior to debt repayment post IPO.
The numbers: Full revenue was 4.5% higher to $281.7 million, while earnings before interest and tax rose 6.1% to $104.8 million as premium home sales lifted the average price.
The company did not declare a full-year dividend.
The context: GemLife said the increase in revenue was driven by premium home sales, which lifted the average selling price by 18%, and improved average home build margins.
CEO Adrian Puljich said the company has a development pipeline of 10,413 homes following its IPO.
GemLife forecast FY26 earnings per share guidance of between 28.5 cents and 30 cents.
The source: ASX
