Peet Limited (ASX:PPC): FY26 Earnings, Dividends and Proposed Ingenia Transaction

Aditi Sarkar

14 October 2026 03:50 PM AEDT

Peet Limited (ASX:PPC): FY26 Earnings, Dividends and Proposed Ingenia Transaction

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Highlights

FY26 net operating profit reached $103.4 million, an increase of 77%.
The board declared FY26 dividends of 13.0 cents per share, fully franked.
Lot sales totalled 2,996 while settlements reached 2,665 in FY26.
Contracts on hand stood at $851 million at 30 June 2026.
Peet announced a proposed acquisition by Ingenia Communities Group, subject to approvals.

Peet Limited (ASX:PPC) develops residential masterplanned communities, townhouses and apartments across Australia. Its FY26 financial results combined increased operating earnings and a higher annual dividend with an active development pipeline. The company also announced a proposed combination with Ingenia Communities Group in August 2026, adding a significant corporate transaction to its current operating developments.

FY26 Profit and Development Activity

For the year ended 30 June 2026, Peet Limited (ASX:PPC) reported net operating profit of $103.4 million, up 77%, and operating earnings per share of 22.1 cents, also up 77%. Revenue increased 3% to $450.2 million, while EBITDA reached $162.8 million, an increase of 54%. EBITDA margin was 36%. These measures reflect the company’s reported operating performance and include non-IFRS measures identified in its results announcement.

Peet Limited (ASX:PPC) recorded 2,996 lot sales in FY26, up 8%, and 2,665 settlements, up 1%. The company cited activity in Western Australia and Queensland, higher settlement prices, and increased fee and interest income from funds management projects as contributors to the result. Contracts on hand totalled $851 million at 30 June 2026, an increase of 39%.

Fully Franked Dividends and Capital Position

The board declared a final FY26 dividend of 6.5 cents per share, fully franked, payable on 22 September 2026. This brought the total FY26 dividend to 13.0 cents per share, fully franked, an increase of 68%. Peet Limited (ASX:PPC) did not present this annual payment as a fixed commitment for subsequent years; future distributions remain subject to board decisions and financial circumstances.

At 30 June 2026, net debt was $201.3 million, compared with $243.6 million at the preceding financial year-end. Gearing stood at 24.8%, within the company’s 20%–30% target range. Peet Limited (ASX:PPC) reported approximately $260 million of cash and available debt facility headroom and said it had repaid $75 million of Peet Notes ahead of schedule during FY26.

Proposed Combination with Ingenia

On 26 August 2026, Peet entered into a scheme implementation deed under which Ingenia Communities Group proposed to acquire all ordinary shares in Peet. The proposed consideration was 0.3367 Ingenia stapled securities plus $0.68 cash for each Peet share. Separately, shareholders were entitled to Peet’s final FY26 dividend of 6.5 cents per share. The transaction remains subject to applicable approvals and scheme conditions; it had not been completed as of 14 October 2026.

Peet Limited (ASX:PPC) reported in October 2026 that scheme documentation had progressed to lodgement. The proposed transaction introduces shareholder and regulatory approval processes alongside the company’s existing residential development activities. Its stated indicative timetable contemplated a shareholder meeting in December 2026, subject to change.

Project Pipeline and Operating Sensitivities

At 30 June 2026, Peet’s development pipeline comprised more than 26,400 lots across 37 projects, with 80% of the pipeline activated. Its portfolio includes Flagstone City in Queensland, Brabham in Western Australia and Googong in New South Wales. Project delivery, settlement timing, housing affordability, construction costs and planning approvals remain relevant considerations for residential developers.

Key Insights

Peet Limited (ASX:PPC) entered FY27 with $851 million of contracts on hand and reported FY26 growth in operating profit, settlements and dividends. Its financial position and project pipeline provide context for ongoing operations, while the announced Ingenia scheme creates a separate corporate process. The distinction between declared dividends, completed FY26 results and the conditional proposed acquisition is important when interpreting the company’s disclosures.

FAQs

Q:What does Peet Limited do?

A:It develops masterplanned residential communities, townhouses and apartments in Australia.

Q:What was Peet’s FY26 operating profit?

A:The company reported net operating profit of $103.4 million for FY26.

Q:How much was the FY26 dividend?

A:Total FY26 dividends were 13.0 cents per share, fully franked.

Q:What was Peet’s gearing at 30 June 2026?

A:Reported gearing was 24.8%.

Q:Has Ingenia completed its proposed acquisition of Peet?

A:No. As of 14 October 2026, the proposed scheme remained subject to conditions and approvals.

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