Australia's Cedar Woods Properties soars on strong presales

Cedar Woods Properties

30/04/2026 04:41

** Shares of Cedar Woods Properties CWP.AX rise as much as 3.1% to A$7.41, their highest since April 17

** Stock set to log its best session since April 20

** Residential communities and commercial property developer says it's on track to meet FY26 guidance of 30%–35% net profit after tax growth

** Says presales of more than A$788 million ($561.69 million), up 12% pcp, provide confidence in FY27 profit growth

** Says more than 80% of forecast FY27 revenue presold

** Down 14% YTD, including the session's moves

($1 = 1.4029 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))