Highlights

  • Peet (ASX:PPC) shares were trading at AUD 1.81, up 3.43% over the past year before entering a Trading halt on 24 August 2026.
  • The company reported record FY26 net operating profit of $103.4 million, up 77% on FY25.
  • FY26 dividends increased 68% to 13.0 cents per share, fully franked.
  • Contracts on hand reached $851 million, while the activated development pipeline increased to 80%.
  • Peet entered a trading halt on 24 August 2026 pending an announcement in response to media speculation regarding a corporate transaction.

Peet Limited (ASX:PPC) has reported record financial results for FY26, delivering net operating profit of $103.4 million, supported by sales activity across key markets, higher settlement prices and increased contributions from Funds Management projects.

The company’s securities entered a trading halt on 24 August 2026 at Peet’s request pending the release of an announcement in response to media speculation regarding a corporate transaction involving the company. Before entering the trading halt, Peet shares were trading at AUD 1.81 and remained up 3.43% over the past year.

Following the release of its FY26 results, Peet highlighted Earnings growth, Balance Sheet improvements, increased Shareholder distributions and progress across its residential development pipeline.

FY26 Results

Peet reported net operating profit of $103.4 million for FY26, representing an increase of 77% compared with FY25.

Operating Earnings Per Share also increased 77% to 22.1 cents, while Revenue increased 3% to $450.2 million. EBITDA increased 54% to $162.8 million, with the EBITDA Margin expanding to 36%.

The Board declared a final fully franked Dividend of 6.5 cents per share, bringing total FY26 dividends to 13.0 cents per share. This represented a 68% increase compared with FY25.

The company attributed the result to continued activity across its Western Australian and Queensland operations, higher settlement prices and increased fee and interest income from Funds Management projects.

Balance Sheet

Peet maintained its focus on balance sheet management during FY26.

Net Debt reduced to $201.3 million at 30 June 2026, compared with $243.6 million at 30 June 2025. The reduction was supported by operating cash generation from development activities and higher distributions from Funds Management projects.

During the year, Peet completed the early repayment of $75 million of Peet Notes, reducing debt costs and improving financial flexibility.

Cash and available debt Facility headroom stood at approximately $260 million at 30 June 2026, while gearing declined to 24.8%, remaining within the company’s target range of 20% to 30%.

Interest cover improved to 7.6 times.

Development Activity

Peet recorded higher sales activity during FY26, with 2,996 lots sold, representing an 8% increase compared with FY25.

Settlements reached 2,665 lots, up 1% on the prior year, supported by Demand across Western Australia and Queensland.

The company’s development pipeline includes more than 26,400 lots across 37 projects, with an estimated gross development value of approximately $11.5 billion.

The activated development pipeline increased to 80%, providing visibility across future development activity.

Key projects within the portfolio include Flagstone City in Queensland, Onderra in the ACT, Brabham in Western Australia, Googong in New South Wales and Aston in Victoria.

Market Performance

Peet reported continued demand across Western Australian and Queensland projects during FY26, while Victoria recorded improving activity levels.

The company’s CEO Brett Fullarton said favourable market conditions enabled Peet to convert demand into higher margins, improved profitability and continued balance sheet strength.

Contracts on hand reached $851 million as at 30 June 2026, representing an increase of 39% compared with FY25.

Trading Halt

Peet requested a trading halt on 24 August 2026 under ASX Listing Rule 17.1.

The company stated that the trading halt was requested pending the release of an announcement to the market in response to media speculation regarding a corporate transaction involving Peet.

The company requested that the trading halt remain in place until the earlier of the release of the relevant announcement or the commencement of normal trading on Wednesday, 26 August 2026.

Peet stated that the trading halt was required to ensure its securities were not trading on a misinformed basis.

Outlook

Peet enters FY27 with $851 million of contracts on hand and an activated development pipeline.

The company expects demand across Western Australia, Queensland and South Australia to continue supporting activity, while market conditions in Victoria and NSW/ACT are expected to improve over time.

Peet continues to monitor factors including cost of living pressures, interest rates and broader economic conditions, while highlighting long-term residential market drivers such as population growth, housing Supply constraints and government policies supporting new housing demand.

What Investors May Be Watching

Investors may continue to monitor Peet’s FY27 execution, including settlement activity, development pipeline progress, balance sheet management and the outcome of the corporate transaction speculation referenced in the trading halt request.

The FY26 results provide visibility over earnings, distributions and development activity, while future performance remains linked to prevailing market conditions and settlement timing.