Bel-Air Apartments Completed and Titles Issued
Key points
- Bel-Air Apartments project completed and titles issued
- 193 residential units and commercial tenancies sold
- FY26 profit guidance reaffirmed at $18-22 million
Full summary
Finbar Group Ltd (ASX: FRI) announced the completion of its wholly-owned Bel-Air Apartments project in Belmont, Perth. The project comprises 194 residential units and two commercial tenancies. Sales reached $113.4 million, with 193 units and both commercial tenancies sold. The project's completion and title issuance mark a significant milestone. Settlements are expected to commence by the end of June 2026. The company reaffirms its FY26 profit guidance of $18-22 million, with settlements potentially occurring in both FY26 and FY27.
Guidance
FY26 net profit after tax guidance: $18-22 million
Outlook
Finbar Group Ltd expects settlements of Bel-Air Apartments to potentially occur in both FY26 and FY27. The company will update the market if settlement recognition differs materially from expectations.
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