AUS
NZ
UK
CA
USA
IND
Highlights
- In 1HFY24, LIC reported a higher net margin (20.8%) compared to the industry median of 13%.
- Recently, the company completed an entitlement offer through which it raised a total amount of nearly AU$ 275 million.
- Considering market conditions and settlement timelines, the company anticipates new home settlements to range from 1,080 to 1,130 between FY23 and FY25.
Lifestyle Communities Limited (ASX:LIC) is an Australian property development and management company. It was listed on ASX on 15th December 1998. The company has a market capitalization of AU$ 1.73 billion.
In the first half of FY24, the company reported a higher net margin (20.8%) compared to the industry median of 13%. In the same reporting period, the company’s annuity revenue increased by 16% YoY, driven by higher rental revenue. Further, the company actively developed 10 projects and scheduled two more projects for launch in 2024.
The company’s return on equity stood at 25.7% in 1HFY24, compared to 24.1% reported in 1HFY23.
Top 10 shareholders
The top 10 shareholders of LIC have around 52.86% shareholding in the company. The maximum stake in the firm is held by Australian Super with a shareholding of 14.77%, followed by Brahman Capital Management Pte Ltd., with a shareholding of 7.69%, as depicted in the chart below:
Recent business update
In March 2024, LIC finalized an entitlement offer, raising approximately AU$ 275 million. Subsequently, the company announced agreements on commercial terms of three land opportunities and is currently undergoing exclusive due diligence on each site.
Outlook
At present, LIC has 432 new homes, which will be available for settlement before 30 June 2024. Based on pre-sales contracts, the company anticipates around 350 new homes to settle in FY24.
Considering market conditions and settlement timelines, the company anticipates new home settlements to range from 1,080 to 1,130 between FY23 and FY25. It reaffirmed its commitment to achieve 1,400 to 1,700 new home settlements over three years (FY24 to FY26).
Share performance of LIC
LIC’s share price went down by ~7.95% in the last one month, and over the last three months, share prices went up by ~17.34%. The stock’s 52-week low and 52-week high stand at AU$ 12.01 and AU$ 19.07, respectively. Presently, LIC is trading lower than the mid-range of the 52-week-high-low.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 23 April 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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