Mirvac Group Reaffirms Fiscal 2027 Earnings Guidance as Residential Sales Moderate

MT Newswires Live10-22

Mirvac Group (ASX:MGR) reaffirmed its fiscal 2027 guidance, forecasting operating earnings of AU$0.132 to AU$0.134 per stapled security and a distribution of AU$0.099 per stapled security, according to a Thursday Australian bourse filing.

For the fiscal first quarter, the company reported residential sales in line with expectations, with 429 net deposits and lots exchanged, 291 settlements compared with 265 a year earlier, and around AU$1.4 billion in pre-sales on hand, per the filing.

Development milestones included the topping out of Harbourside and 55 Pitt Street in Sydney, the acquisition of two premium-grade office assets through its wholesale office fund, and the launch of a capital raise for the LIV Mirvac Fund, the filing said.

The company has completed about 75% of its AU$200 million on-market buy-back and said fiscal 2027 performance would partly depend on settling 2,800 to 3,100 residential lots, with most settlements expected in the second half, the filing added.

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