Desane Group AGM Chairman's Address Discloses $105.9 Million Total Assets and NTA of $1.69 Per Security

Aakashdeep

05 November 2026 03:14 PM AEDT

Desane Group AGM Chairman's Address Discloses $105.9 Million Total Assets and NTA of $1.69 Per Security

Image Source: Krish Capital Pty Ltd

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Desane Group Holdings (ASX:DGH) disclosed at its 2026 Annual General Meeting that the Group recorded earnings before interest and tax of $1.0 million for the financial year ended 30 June 2026, with total assets of $105.9 million and net tangible assets of $1.69 per security, according to the Chairman's address delivered by Professor John Sheehan AM.

Key Points

Group EBIT of $1.0 million for the financial year ended 30 June 2026
Total assets of $105.9 million and NTA of $1.69 per security
Special dividend of 2 cents per share paid to shareholders during the year
Sale of 13 Sirius Road, Lane Cove completed after more than two decades of ownership
Melissa Ashcroft appointed as Independent Non-Executive Director during the year; Peter Krejci to succeed Prof. Sheehan as Chairman

Financial Results for FY26

According to the Chairman's address, Desane Group reported earnings before interest and tax of $1.0 million for the financial year ended 30 June 2026. The Group's total assets stood at $105.9 million at year end, with net tangible assets of $1.69 per security. The filing also confirmed that the company paid shareholders a special dividend of 2 cents per share during the year. The Chairman described the year as concluding with a strong asset base, sound liquidity and conservative gearing, citing management's measured approach to assessing feasibility of construction amid ongoing cost pressures.

Sale of 13 Sirius Road, Lane Cove and Development Pipeline

The filing disclosed the completed sale of 13 Sirius Road, Lane Cove, a property held for more than two decades, with the transaction described as releasing capital and increasing flexibility available to the Group. The Chairman's address identified two active development projects within the existing portfolio: the Penrith industrial project and the redevelopment of 322 Norton Street. The filing states both projects are at different stages of the development process. The Board's stated approach remains that capital should not be retained in an asset solely on the basis of the length of ownership.

Board Changes and Chairman Succession

The filing disclosed that Melissa Ashcroft joined the Board as an Independent Non-Executive Director during the year, with her experience described as covering commercial property finance, private credit and complex funding structures. The address also confirmed that Peter Krejci will succeed Professor Sheehan as Chairman. Professor Sheehan stated that he joined the Desane Board in 1987 and has served as Chairman since 1992, representing close to four decades as a Director and more than three decades as Chairman. The filing acknowledged the executive leadership of Rick Montrone, supported by Jack Sciara and the broader management team.

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