Australia's Ingenia Communities hits 2-1/2-year high on upbeat results, forecast

Ingenia Communities

20/08/2024 02:21

** Shares of Ingenia Communities  INA.AX  rise as much as
7.9% to A$5.480, their highest level since Feb. 22, 2022
    ** Property developer posts biggest intraday pct jump since
Nov 11, 2022
    ** Co posts FY EBIT growth of 17%, beating its guidance of
10%-15% growth, while revenue rises 20%
    ** Posts underlying EPS of 23.3 Australian cents, higher
than its guidance of 20.8 to 22.3 AU cents
    ** Declares final distribution of 6.1 AU cents per stapled
security
    ** Co sees FY25 EPS of 24.4 to 25.6 AU cents and EBIT growth
of 10% to 15%
    ** Stock up 14.2% YTD, as of last close 

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))