• NPAT of $14.38 million, Underlying NPAT of $16.17 million
• Revenue of $284.47 million, up 46% from prior year
• Declared 2 cent fully franked final dividend

Finbar Group Limited (ASX: FRI), Western Australia's leading apartment development company, has announced a full year Net Profit after Tax of $14.38 million, for the financial year ended 30 June 2025. On an underlying basis, excluding yearly variations in property valuations and one-off disposals, underlying NPAT was $16.17 million, an improvement of 16% over the prior year. These results were driven by the settlement of $352 million in sales value across 351 lots, underpinned by the completion of The Point and Aurora projects, together with strong sales from the completed Civic Heart development in a robust WA real estate market. The Board has determined to resume payment of regular interim and final dividends, with a 2 cent fully franked Final dividend declared for FY25. Finbar has developed a strong five-year development pipeline with well-located sites positioning the Company for sustained revenue and profit growth, with a total development pipeline value of more than $1 billion. The Company completed FY25 with $36.4 million cash on hand, providing a robust balance sheet position and achieving a net debt reduction of $360 million over FY25 to $56.7 million. Finbar intends to focus more on wholly owned projects to create greater value for shareholders.

For the financial year ending 30 June 2026, Finbar expects to benefit from the progressive sell-down of its completed inventory, with residential value reducing from $139 million at 30 June 2025 to $89 million currently, reflecting $50 million sales achieved year-to-date. In addition, Pelago residential units in Karratha contributed $9 million in sales during the period. Projects under construction and pre-launch have delivered a further $55 million in OTP sales since 30 June 2025, bringing total sales since 30 June 2025 to $114 million.

The WA market continues to show positive levels of demand in the off-the-plan market where supply of affordable, mid-tier product is constrained. Finbar expects to benefit from the progressive sell-down of its completed inventory and from the settlements of apartments sales in its projects under construction and pre-launch, which are expected to result in material profit recognition events in the coming financial years.