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Ingenia announces profit upgrade – as the market gets worse

Michael Bleby
Michael BlebyDeputy property editor

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Shares in Ingenia jumped 15 per cent after the developer of affordably priced housing for downsizing Baby Boomers raised its earnings guidance for the current year by up to $17 million.

ASX-listed Ingenia on Wednesday raised its EBIT earnings guidance for the year to June to a range of $162 million to $165 million – representing growth on FY24 of 20-23 per cent – from its previous range of $148 million to $155 million, a predicted increase of 10-15 per cent.

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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com

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    Original URL: https://www.afr.com/property/commercial/ingenia-announces-profit-upgrade-as-the-market-gets-worse-20250114-p5l495