Simonds Group Limited (ASX:SIO) disclosed a statutory Net Profit After Tax of $10.5 million for FY26, up 950% from $1.0 million in FY25, as Executive Chair and CEO Rhett Simonds addressed shareholders at the company's Annual General Meeting on 11 November 2026.

Key Points

  • Statutory NPAT increased 950% to $10.5 million in FY26, up from $1.0 million in FY25
  • Revenue from continuing operations rose 9.5% to $729.1 million, with EBITDA up 76.8% to $42.5 million
  • Site starts increased 16.1% to 1,772 for the year
  • Simonds expanded into Western Australia through a joint venture with Perth-based builder Atlas Building
  • Five executive leadership appointments were disclosed, including a new Deputy CEO and Chief of Construction

FY26 Financial Results

According to the filing, Simonds Group delivered revenue from continuing operations of $729.1 million in FY26, a 9.5% increase on the prior year. EBITDA rose 76.8% to $42.5 million. Gross margin improved to 24.0%, which the company attributed to disciplined pricing and procurement, a favourable sales mix, construction productivity initiatives, and benefits from the Dennis Family Homes integration. The company said the results were supported by a full year of contribution from Dennis Family Homes and continued growth in alternative sales channels.

Western Australia Expansion and Operational Milestones

The filing disclosed that Simonds entered Western Australia during FY26 through a joint venture with Atlas Building, described as a trusted Perth-based builder. The company also reported the launch of a customer technology platform called HomeHub, the opening of a new Gallery Showroom in Melbourne, and continued growth in its wholesale and medium density channels. Site starts for the year totalled 1,772. The company said the operating environment for residential construction remained complex throughout FY26 due to cost of living pressures, interest rate movements, geopolitical uncertainty, and Federal Budget announcements.

Executive Leadership Team Appointments

Simonds disclosed several additions to its Executive Leadership Team during FY26. Parthena Morgan was appointed Chief People and Culture Officer, Blaire Jones as Chief of Operations, and Josh Goodwill as Chief Strategy Officer. Nathaniel Dean was appointed Chief of Construction, having joined the business in 2012 as a Site Supervisor. Shaun Patterson was appointed to the Deputy CEO role. The filing also noted that the company acknowledged shareholder concerns raised during the period, stating it had undertaken additional steps and made further disclosures in its audited financial statements.