Highlights

  • Peet Limited delivered a record FY26 net operating profit of $103.4 million, up 77% on the prior year during FY26.
  • Operating Earnings Per Share increased 77% to 22.1 cents for the year ended 30 June 2026 for the full year.
  • Fully franked dividends of 13.0 cents per share were declared for FY26, representing a 68% increase across the reporting period.
  • Contracts on hand grew 39% to $851 million at June 2026, providing a forward sales position for the following year.

Peet Limited (ASX:PPC), one of Australia's leading residential land developers founded in 1895, delivered record earnings for the full year ended 30 June 2026. Net operating profit of $103.4 million represented a 77% increase on FY25, comfortably exceeding the company's own upgraded guidance of $98 to $100 million. Operating earnings per share rose 77% to 22.1 cents. Total Revenue increased 3% to $450.2 million, comprising statutory revenue of $419.1 million and $31.1 million from associates and joint ventures. EBITDA grew 54% to $162.8 million, with an EBITDA Margin of 36%.

Revenue and Segment Performance

Peet's Development segment recorded revenue of $305.5 million, slightly lower than the prior year, while the Funds Management segment delivered a 10% increase in revenue to $93.4 million, reflecting growth in Assets under management and ongoing performance from managed joint venture projects. The company's performance was underpinned by strong residential land markets in Western Australia and Queensland — Peet's two largest operating geographies — where population growth, limited housing supply, and ongoing government support for first home buyers and affordable housing drove sustained Demand for master-planned communities. The company's activated development pipeline increased to 80% of total land holdings, supporting forward revenue visibility.

Dividends and Shareholder Returns

The Peet Limited board declared a final dividend of 7.5 cents per share, fully franked, for the second half of FY26, bringing the total full-year dividend to 13.0 cents per share — a 68% increase on the FY25 dividend. The strong growth in shareholder returns reflected both the record earnings result and the board's confidence in the company's ability to sustain elevated earnings through its contracted pipeline and activated landbank. As at 30 June 2026, Peet had $851 million of contracts on hand, representing a 39% increase from the prior year — a Volume of contracted revenue that provides direct earnings visibility before any new sales are made.

FY27 Outlook and Pipeline

Peet entered FY27 with strong momentum and a highly activated development pipeline. Management highlighted that Ingenia Communities Group (ASX:INA) has proposed an Acquisition of Peet, which the Peet board has indicated is subject to ongoing evaluation. Absent any change of control transaction, Peet's standalone FY27 outlook is underpinned by its contracted pipeline, broad geographic diversification, and continued underlying demand for affordable residential land — particularly in Western Australia and Queensland where housing Supply constraints remain acute. The activated development pipeline increase to 80% ensures that a substantial proportion of the landbank is in an operational state capable of generating sales and settlements in the near term.

Stock Price Information

Peet Limited (ASX:PPC) shares were trading at $1.910 on 6 November 2026, representing a gain of 5.52% for the day. The stock has risen approximately 1% over the past 12 months.