Ingenia Communities said revenue and profit picked up over the six months to December as the developer and landlord of land lease communities for downsizing over-55s settled almost 40 per cent more homes, even without improvements in the major established housing markets.
ASX-listed Ingenia settled 199 turnkey homes for customers – up from 143 a year earlier – lifting gross development profit to $53.5 million from $34.6 million.
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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
