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Ingenia Communities Group Provides Morgans 2017 Queensland Conference Presentation

11 Oct 2017  |  15:10:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Morgans 2017 Queensland Conference Presentation

Ingenia Communities Group provided Conference Presentation stating that the Company's revenue was $149.9m which was up by 40.0% on FY16; EBIT was $32.1m which was above guidance and up 32.6% and positive operating cash flows of $30.3m which was up 44.3% on FY16. The Company had acquired $180m worth of assets in FY17. The Company also advised of an expansion of 256 homes is underway which will create one of the largest communities in SE Qld. The range of non-core assets, including DMF, regional and subscale communities under conditional contract or offer were also secured. The Company aims to improve performance of assets to drive revenue growth and leverage operating and sales platform and progress asset sales and capital recycling to fund future growth through development.

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