Highlights

  • Share price up 43.43% over the past 12 months.
    • Interim dividend of 6.5 cents per share, fully franked, up 136% on 1H FY25, yielding 5.66% annually.
    • Net operating profit doubled, reaching AUD 50.9 million, with operating earnings per share of 10.88 cents.

Peet Ltd (ASX:PPC) has reported strong interim results for the half-year ended 31 December 2025, reflecting continued earnings growth and operational momentum across its national land bank. The company’s shares have gained 43.43% over the past year, supported by increased settlements, high project activation, and a fully franked interim dividend of 6.5 cents per share, representing a 5.66% annual yield.

Share Price Performance and Dividend

Peet shares were trading at AUD 1.92, down 5.32% today, but remain significantly higher year-on-year. The fully franked interim dividend of 6.5 cents per share will be payable on 26 March 2026, with the record date of 12 March 2026. The dividend marks a substantial increase compared to 2.75 cents per share in 1H FY25, reflecting robust first-half performance.

Operational and Financial Performance

Peet delivered net operating profit of AUD 50.9 million, up 102% on 1H25, alongside operating earnings per share of 10.88 cents, also up 102%. EBITDA margin expanded to 34%, improving 8 percentage points from the prior corresponding period. Net tangible assets per share increased to AUD 1.44, up 5% since 30 June 2025.

Settlement activity remained strong, with 1,496 lots settled and 1,773 lots sold, while contracts on hand reached AUD 776 million, up 27% since mid-2025. Land bank activation remained high at 76%, ensuring a ready supply of lots for ongoing delivery and supporting the upgraded FY26 NPAT guidance of AUD 86–90 million.

Balance Sheet and Capital Management

Peet maintained a healthy balance sheet with gearing at 24.7%, within its target range of 20–30%, and cash and undrawn facilities exceeding AUD 200 million. Improved settlement activity and reduced debt costs contributed to financial flexibility. The company also completed an on-market share buyback, reducing shares on issue by approximately 4%.

Peet’s first-half performance demonstrates robust earnings growth, strong operational execution, and improved shareholder returns through a substantially higher dividend. Combined with a 43% share price increase over the past year, the results highlight Peet’s capacity to leverage market conditions, maintain an active land bank, and deliver continued growth in FY26.

FAQs

  1. How has Peet Ltd’s share price performed over the last year?
    Peet shares have increased approximately 43.43% over the past 12 months.
  2. What dividend yield is Peet offering?
    The interim dividend is 6.5 cents per share, fully franked, giving an annualised yield of 5.66%.
  3. What drove the first-half earnings growth?
    Earnings growth was supported by higher settlements, robust land bank activation, margin expansion, and increased contribution from Funds Management projects.

Key Financial Metrics

  • Share Price: AUD 1.92
  • Interim Dividend: 6.5 cents per share, fully franked
  • Dividend Yield: 5.66%
  • Net Operating Profit: AUD 50.9 million, +102% YoY
  • Operating EPS: 10.88 cents, +102% YoY
  • EBITDA Margin: 34% (+8pp)
  • Contracts on Hand: AUD 776 million, +27% YoY
  • Land Bank Activation: 76%
  • Gearing: 24.7%
  • Cash & Undrawn Facilities: > AUD 200 million