Peet FY26 profit up 77% to $103.4M

• Peet reported a record net operating profit of $103.4 million for FY26, representing a 77% increase over the previous year.
• Total full-year dividends surged 68% to 13 cents per share, while contracts on hand grew 39% to $851 million.
• The profit increase was driven by strong sales in Western Australia and Queensland, higher settlement prices, and expanding EBITDA margins.

Peet (ASX:PPC) delivered a net operating profit of $103.4 million for the 2026 financial year, driven by higher property settlement prices and strong market conditions.

The performance beat full-year profit guidance of $86 million to $90 million provided in February, while operating earnings per share jumped 77% to 22.1 cents.

"Our contracts on hand position of $851 million provides excellent visibility into FY27 and demonstrates the continued depth of demand across our portfolio," said Peet Managing Director Brett Fullarton.

The residential developer recorded 2,996 lot sales and 2,665 lot settlements during the year, while expanding its activated pipeline to 80%.

Following the announcement, the Peet share price was unchanged at $1.81 after entering a trading halt pending a corporate transaction.

The board has declared a fully franked final dividend of 6.5 cents per share, payable on Sept. 22.

Founded in Western Australia in 1895, the land developer manages a total bank of more than 26,400 lots across major mainland Australian cities.

The business cut net debt by $42.3 million during the financial year while maintaining gearing within its target range of 20% to 30%.