Key Highlights

  • Finbar Group Limited (ASX:FRI) trades ex-dividend on 3 September 2026 for a fully franked final Dividend of 3 cents per share, payable 25 September 2026
  • FY26 NPAT was $20.3 million, up 40.9% on FY25's $14.4 million, marking the company's strongest reported profit since FY15
  • Revenue declined 28.2% to $204.3 million from $284.5 million in FY25, reflecting the timing of project completions
  • Pre-sales reached a record $567.2 million at 30 June 2026, supported by launches including Riverbank Residences, Palmyra West Apartments and Romeo

Finbar Group Limited (ASX:FRI) shares are scheduled to trade ex-dividend on Thursday, 3 September 2026, ahead of the company's fully franked final dividend of 3 cents per share, payable to shareholders on 25 September 2026, with a Record Date of 4 September 2026.

Full-Year Financial Results

For the financial year ended 30 June 2026, Finbar reported Net Profit after Tax of $20.3 million, an increase of 40.9% on the $14.4 million recorded in FY25, and within the company's guidance range of $18 million to $22 million. The result represented the company's strongest reported profit since FY15. On an underlying basis, excluding yearly movements in property portfolio valuations, NPAT was $22.1 million, an increase of 36.5% over the prior year.

Revenue for the year was $204.3 million, compared with $284.5 million in FY25, a decrease of 28.2%, which the company attributed to the timing and mix of project settlements during the period. Finbar recorded settlements with a total value of $263.7 million across 287 lots during FY26, including prior possessions, as it delivered its order book for the year.

Pre-Sales and Sales Momentum

Average monthly off-the-plan sales were $29.1 million across 35 lots during the year, with total pre-sales reaching a record $567.2 million at 30 June 2026. The company said this pre-sales position was supported by the successful launches of Riverbank Residences, Palmyra West Apartments and Romeo, providing visibility over future settlements as current projects progress through construction.

Balance Sheet and Dividend

Finbar closed FY26 with cash of $50.7 million, an increase of $14.3 million from 30 June 2025, and achieved a net Debt reduction of $36.4 million during the year. The Board declared a fully franked final dividend of 3 cents per share, bringing total fully franked dividends for FY26 to 5.5 cents per share. The final dividend will trade ex-dividend on 3 September 2026, with a record date of 4 September 2026 and payment on 25 September 2026. The company noted that future dividends remain subject to its financial performance, Capital requirements and prevailing market conditions.

Development Pipeline

Across projects under construction, market-ready opportunities, projects pending market release and longer-term development opportunities, the company's five-year pipeline represented approximately $1.8 billion in estimated end value. Finbar completed its Bel-Air Apartments project during FY26, while Garden Towers, Riverbank Residences and Palmyra West Apartments remain under construction, and Romeo was launched to the market during the year. At year end, projects under construction represented $515.1 million in estimated end value.

The pipeline was further progressed and replenished during the year. Finbar acquired and lodged a development application for a site at 236 Railway Parade in West Leederville, secured two further development sites in South Perth, and obtained development approval for a $73 million project in Rivervale. The company noted its established relationships with Hanssen and other key suppliers and partners in the Western Australian construction sector as supporting its ability to deliver new housing supply.

Management Commentary

Finbar CEO Ronald Chan said FY26 was an important year of delivery for the company, converting its order book into its strongest reported profit since FY15, meeting Earnings guidance, strengthening the Balance Sheet and increasing fully franked returns to shareholders. He said record pre-sales of $567.2 million provide clear visibility over future settlements and confidence in progressing the company's five-year development pipeline, adding that Finbar remains focused on affordable, mid-tier apartments addressing housing affordability and unmet Demand in Western Australia.

Market Conditions and Outlook

Finbar enters FY27 with a record pre-sales book, a strengthened balance sheet and a pipeline of well-located projects. The company said the Western Australian apartment market continues to be supported by housing undersupply, inward migration and Perth's relative performance against other state capitals, with the apartment sector experiencing its strongest conditions since 2020/21.

Conclusion

Finbar Group's FY26 results reflect a year in which the company converted its order book into its strongest profit result since FY15, notwithstanding a decline in Revenue tied to the timing of project settlements during the period. Record pre-sales, an improved balance sheet position through a substantial net debt reduction, and continued progression of a $1.8 billion five-year development pipeline provide the basis for the company's stated confidence heading into FY27 amid supportive conditions in the Western Australian apartment market.