Property firm Mirvac (ASX:MGR) has reaffirmed its full-year earnings guidance despite flagging a recent moderation in residential sales and mounting geopolitical uncertainties.
In a quarterly update, the group maintained its projected operating earnings of 12.8 cents to 13 cents per share, supported by a planned 5.6% dividend increase to 9.5 cents.
While the headline figures for the March quarter appeared robust—totalling 1,896 residential sales, a 28% jump compared to the previous year—the monthly data suggests a cooling trend.
March alone accounted for only 281 sales, with CEO Campbell Hanan noting that momentum has "moderated on selected projects" heading into April.
Despite this slowdown, Hanan emphasised that market fundamentals remain solid, particularly within the New South Wales middle ring, Western Australia, and Queensland, where demand continues to show resilience.
The developer is also navigating a complex global landscape, specifically monitoring the fallout from the Middle East conflict.
To mitigate potential disruptions, Mirvac has shifted towards a more defensive posture. "We are proactively managing the risks, with a sharpened focus on protecting liquidity, active supply chain management, and selective capital deployment," Hanan stated.