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Lifestyle Communities Provides Update on FY21 Profit

22 Jul 2021  |  11:51:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Update on FY21 Profit

Lifestyle Communities advised that the Company has finalised the year end valuation process for its portfolio of 23 communities that are fully developed, partially developed or waiting to commence development. A combination of home settlements in FY21, a continued reduction in capitalisation rates for land lease assets, and movements in residential property market, has resulted in increase of $108.6m in the value of the Company's property portfolio (FY20: $38.9m). New home settlements for FY21 were 255 (FY20: 253) and resale settlements where DMF was applicable were 105 (FY20: 80). The Company also advised that it will announce its audited FY21 financial results on 18th August 2021.

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