Finbar (ASX: FRI) FY26 Profit Jumps 41% as Record $567m Pre-Sales Improves Development Pipeline

Sonal Goyal

20 August 2026 10:58 AM AEST

Finbar (ASX: FRI) FY26 Profit Jumps 41% as Record $567m Pre-Sales Improves Development Pipeline

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Highlights

FY26 NPAT increased 40.9% to $20.3 million, the company's highest reported profit since FY15.
Revenue declined 28.2% to $204.3 million due to the timing and mix of project settlements.
Record pre-sales reached $567.2 million, while cash increased to $50.7 million and net Debt fell by $36.4 million.
FY26 dividends increased to 5.5 cents per share, including a fully franked final Dividend of 3 cents.

Finbar Group Limited (ASX:FRI) reported a significant increase in FY26 profit despite a substantial decline in Revenue as project settlement timing affected the reported top line. NPAT rose 40.9% to $20.3 million for the year ended 30 June 2026, compared with $14.4 million in FY25. The result was within the company's previously provided guidance range of $18 million to $22 million and represented Finbar's highest reported profit since FY15.

Underlying NPAT, excluding movements in property portfolio valuations, increased 36.5% to $22.1 million from $16.2 million. In contrast, revenue declined 28.2% to $204.3 million from $284.5 million. The revenue reduction reflected the timing and mix of project completions rather than a comparable decline in reported earnings.

Finbar shares were trading at $0.72, up 5.11% or $0.035 at 10:02am on 20 August 2026.

Record Pre-Sales Provide Future Settlement Visibility

Finbar settled projects with a total value of $263.7 million across 287 lots during FY26. At the same time, off-the-plan sales averaged $29.1 million per month across 35 lots, contributing to record total pre-sales of $567.2 million at year-end.

The pre-sales position was supported by launches including Riverbank Residences, Palmyra West Apartments and Romeo. These sales provide visibility over future settlements as projects progress through construction.

Bel-Air Apartments was completed during FY26, while Garden Towers, Riverbank Residences and Palmyra West Apartments remained under construction. Romeo had also been launched to the market. Projects under construction represented an estimated end value of $515.1 million at the reporting date.

Balance Sheet and Dividend

Finbar ended FY26 with cash of $50.7 million, an increase of $14.3 million from the previous year. Net debt was reduced by $36.4 million during the financial year, marking a further change in the company's Balance Sheet position.

The Board declared a fully franked final dividend of 3 cents per share, taking total FY26 dividends to 5.5 cents per share. The final dividend is scheduled to be paid on 25 September 2026, with a Record Date of 4 September.

Dividend payments remain subject to the company's financial performance, Capital requirements and prevailing market conditions.

Development Pipeline Expands

Finbar's five-year development pipeline represented approximately $1.8 billion in estimated end value at the end of FY26. The pipeline includes projects under construction, market-ready opportunities, projects awaiting market release and longer-term development sites.

During the year, Finbar acquired and lodged a development application for 236 Railway Parade in West Leederville, secured two additional development sites in South Perth and obtained approval for a project with an estimated end value of $73 million in Rivervale.

Following the FY26 result, the company also announced the conditional Acquisition of a 5,317-square-metre site at 172-176 Great Eastern Highway, Ascot, for $7.5 million. The proposed project has an estimated end value of approximately $150 million and is targeted for market launch in calendar 2027. Subject to FIRB approval, settlement is expected in late November 2026, with project completion anticipated in FY2029 or FY2030.

The Ascot acquisition would increase Finbar's five-year development pipeline to more than $1.95 billion.

Conclusion

Finbar's FY26 performance combined a 40.9% increase in NPAT with a 28.2% decline in revenue, highlighting the impact that project settlement timing can have on annual revenue recognition in property development. At the same time, record pre-sales, lower net debt and higher cash provide visibility across upcoming projects. The company enters FY27 with developments under construction, a growing pipeline and an expanded prospective pipeline following the Ascot acquisition, while the Western Australian apartment market continues to be influenced by housing Supply constraints and population growth.

FAQs

Q: What was Finbar's FY26 NPAT?

A:Finbar reported NPAT of $20.3 million in FY26, up 40.9% from $14.4 million in FY25.

Q: Why did Finbar's revenue decline in FY26?

A:Revenue fell 28.2% to $204.3 million, primarily reflecting the timing and mix of project settlements during the financial year.

Q: What were Finbar's FY26 pre-sales?

A:Total pre-sales reached a record $567.2 million at 30 June 2026, providing visibility over future project settlements.

Q: What dividend did Finbar declare?

A:The company declared a fully franked final dividend of 3 cents per share, taking total FY26 dividends to 5.5 cents per share.

Q: What is Finbar's development pipeline?

A:Finbar's five-year development pipeline was approximately $1.8 billion at FY26 year-end and increased to more than $1.95 billion following the announced Ascot development site acquisition.

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