Highlights

  • Peet (ASX:PPC) reported FY26 net operating profit of AUD 103.4 million, up 77%.
  • FY26 sales reached 2,996 equivalent lots, with 2,665 equivalent lots settled.
  • Contracts on hand totalled AUD 851 million at 30 June 2026.
  • A proposed scheme involving Ingenia remained subject to Shareholder and other approvals in November 2026.

Peet Limited develops masterplanned residential communities and offers land, townhouses and other housing choices across Australia. Peet Limited (ASX:PPC) shares closed at AUD 1.49 on 10 November 2026. Its FY26 financial results and a proposed corporate transaction are important developments for assessing the company’s operating position and near-term outlook.

FY26 Earnings and Balance Sheet

For the year ended 30 June 2026, Peet (ASX:PPC) reported net operating profit of AUD 103.4 million, an increase of 77% on FY25. This is an operating measure rather than statutory net profit. Operating Earnings Per Share increased 77% to 22.1 cents. The company reported Revenue of AUD 450.2 million, up 3%, including its share of net profits from associates and joint ventures. EBITDA rose 54% to AUD 162.8 million, with an EBITDA Margin of 36%.

The group reported net Debt of AUD 201.3 million at 30 June 2026, compared with AUD 243.6 million a year earlier. Gearing was 24.8%, within its stated target range of 20%–30%. Cash and available debt-facility headroom stood at approximately AUD 260 million. Future cash requirements depend on construction activity and settlement schedules.

Land Sales, Settlements and Pipeline

Peet (ASX:PPC) recorded 2,996 equivalent lots sold during FY26, an 8% increase, while equivalent lots settled rose 1% to 2,665. Western Australia and Queensland were important contributors to the year’s result, and the company also described improving sales activity in Victoria. Signed sales do not necessarily translate into earnings in the same period.

At 30 June 2026, contracts on hand reached AUD 851 million, up 39% from the comparable prior-year position. Peet reported a pipeline exceeding 26,400 equivalent lots across 37 projects, with an estimated gross end value of approximately AUD 11.5 billion. This is forecast future sales value, not earned revenue. The company said 80% of its pipeline was activated, using its definition that all lots in a launched project count as activated.

Dividends and Proposed Scheme

Peet (ASX:PPC) declared a fully franked final FY26 Dividend of 6.5 cents per share, bringing total FY26 dividends to 13.0 cents per share, up 68% on FY25. The final dividend was scheduled for payment on 22 September 2026. Future dividends are not guaranteed.

On 26 August 2026, Peet announced a scheme implementation deed under which Ingenia Communities Group proposed acquiring all ordinary Peet shares. The stated consideration comprised 0.3367 Ingenia stapled securities plus AUD 0.68 cash per Peet share. Peet subsequently confirmed on 3 November that the Federal Court had ordered a shareholder meeting to consider the proposal and that the scheme booklet had been registered. Its investor announcements record despatch of the booklet on 5 November. As of 10 November, the proposal remained subject to required approvals and conditions; it should not be described as completed.

FY27 Considerations

Peet (ASX:PPC) entered FY27 with AUD 851 million in contracts on hand and a substantial development pipeline. The company indicated that future outcomes would depend on market conditions and settlement timing. Affordability, costs and regional Demand may affect settlements. The proposed scheme adds a separate approval and execution consideration for shareholders.

Key Insights

Peet (ASX:PPC) combined stronger FY26 operating earnings with lower reported net debt and higher contracts on hand. Its development pipeline provides potential future activity but remains exposed to market and delivery conditions. The proposed Acquisition was still pending as at 10 November 2026.