• Revenue up 353% to $5.02M
• Net loss reduced by 31% to $1.87M
• Completed Forbes Residences project in Applecross

Mustera Property Group Ltd (ASX: MPX) has reported its interim financial results for the six months ended 31 December 2024. The company recorded revenue of $5,015,180, up 353% from the previous corresponding period, largely driven by the sale of inventory from its Forbes Residences project in Applecross. The Group recorded a loss of $1,868,255, a 31% improvement from the previous corresponding period. Project costs associated with the sales of three smaller apartments and one commercial unit were apportioned based on strata area, reflecting a ~15% margin on cost. The Group's loss also included a higher level of administration and corporate overheads due to an increase in activities during the period. Mustera continued to focus on progressing its portfolio of development assets, including the completed Forbes Residences project and upcoming projects at 15 McCabe Street in North Fremantle, 75 Haig Park Circle in East Perth, and Grace Quarter in Midland.