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%

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