Mirvac Group Reaffirms Fiscal 2025 Operating Earnings, Distribution Guidance

MT Newswires Live10-22

Mirvac Group (ASX:MGR) reaffirmed its fiscal 2025 guidance for operating earnings per security of between AU$0.12 and AU$0.123 and distribution of AU$0.09 per security.

Attainment of guidance is subject to the completion of core strategic priorities, including achieving between 2,000 and 2,500 residential lot settlements, executing more than AU$500 million in non-core asset sales, and securing capital partners at key development projects, according to a Tuesday filing with the Australian bourse.

The property group expects the weighted average cost of debt to remain at about 5.6% and gearing to be elevated in the first half of 2025 due to the timing of cash flows, the filing said.

Shares of Mirvac Group were down almost 1% in recent Tuesday trade.

Price (AUD): $2.17, Change: $-0.02, Percent Change: -0.91%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment