Ingenia announces profit upgrade – as the market gets worse
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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