Strong Residential Presales Help Mirvac to a Mini-Upgrade at 1H17 Result. FVE unchanged at AUD 2.00
No surprises in Mirvac Group’s strong first-half fiscal 2017 operating EPS of AUD 6.2 cents per security, or cps, up 38% on the previous corresponding period--an unusually weak period due to a low number of residential settlements. Continuation of a robust residential market and increased certainty around residential presales has enabled Mirvac to raise the bottom end of the fiscal 2017 guidance to AUD 14.2 cps from AUD 14.0 cps. Fiscal 2017 earnings guidance is now between AUD 14.2 cps and AUD ...Mirvac Group is engaged in real estate investment, development, third party capital management and property asset management. Co. performs these activities across three primary segments: Office & Industrial, which manages the office and industrial property portfolio to produce rental income along with developing office and industrial projects; Retail, which manages the retail property portfolio, including shopping centers, to produce rental income; and Residential, which designs, develops, markets and sells residential properties to external customers including masterplanned communities and apartments in primary metropolitan markets in conjunction with strategic partners.
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