FY26 Results: Finbar Delivers Strongest Profit Since FY15
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Finbar Group Limited (ASX: FRI) has delivered a strong FY26 result, with the Company’s strongest reported profit since FY15, record pre-sales and further progress in strengthening its balance sheet and development pipeline.
For the financial year ended 30 June 2026, Finbar recorded Net Profit After Tax (NPAT) of $20.3 million, up 40.9% on the prior year and within the Company’s FY26 guidance range of $18 million to $22 million.
On an underlying basis, excluding movements in property portfolio valuations, NPAT increased 36.5% to $22.1 million, highlighting the strength of the underlying business performance.
The result comes at an important time for the Western Australian property market, where persistent housing undersupply, population growth and strong demand for well-located apartments continue to support the sector.
A strong year of delivery
FY26 was a year in which Finbar converted its substantial order book into completed settlements while continuing to build a significant pipeline of future projects.
The Company recorded $263.7 million in settlements across 287 lots, including prior possessions.
Revenue was $204.3 million, compared with $284.5 million in FY25. The reduction primarily reflects the timing and mix of project completions and settlements across the development portfolio, rather than a weakening in underlying demand.
That demand was demonstrated through Finbar’s sales performance during the year.
The Company achieved record pre-sales of $567.2 million at 30 June 2026, with average monthly off-the-plan sales of $29.1 million across 35 lots.
The strong pre-sales result was supported by the successful launches of Riverbank Residences, Palmyra West Apartments and Romeo Applecross, providing increased visibility over future settlements as these projects progress through construction.
For investors, the record pre-sales book is an important indicator of the earnings visibility embedded within Finbar’s current development portfolio.
Strengthening the balance sheet
Alongside its earnings performance, Finbar made significant progress in strengthening its financial position.
The Company closed FY26 with $50.7 million in cash, an increase of $14.3 million compared with 30 June 2025.
Net debt was reduced by $36.4 million during the year, reflecting the Company’s continued focus on disciplined capital management and balance sheet strength.
The Board has also declared a fully franked final dividend of 3 cents per share, bringing total fully franked dividends for FY26 to 5.5 cents per share.
The final dividend will trade ex-dividend on 3 September 2026, with a record date of 4 September 2026 and payment scheduled for 25 September 2026.
Future dividends remain subject to Finbar’s financial performance, capital requirements and prevailing market conditions.
Building the next phase of growth
While FY26 was defined by delivery, Finbar is already building the foundations for future earnings.
The Company’s five-year development pipeline represents approximately $1.8 billion in estimated end value, spanning projects under construction, projects selling off-the-plan, projects pending market release and longer-term development opportunities.
At 30 June 2026, projects under construction represented approximately $515.1 million in estimated end value.
During FY26, Finbar completed Bel-Air Apartments, while Garden Towers, Riverbank Residences and Palmyra West Apartments progressed through construction, and Romeo was successfully launched to the market.
The Company continued to replenish and expand its pipeline through the acquisition and subsequent development application for 236 Railway Parade in West Leederville, the securing of two additional development sites in South Perth and obtaining development approval for a $73 million project in Rivervale.
These projects add depth to Finbar’s development pipeline and provide opportunities to continue delivering new housing supply in established and well-connected Perth locations.
Positioned for Perth’s apartment market
Finbar’s strategy remains focused on affordable, mid-tier apartments in well-located areas, targeting a segment of the market where housing affordability and supply constraints are creating sustained demand.
Western Australia’s apartment market continues to benefit from a combination of factors, including housing undersupply, strong inward migration and Perth’s relative economic performance compared with other Australian capital cities.
The apartment sector has continued to experience some of its strongest conditions since 2020/21, creating a supportive environment for developers with established project pipelines and the capability to deliver new supply.
For Finbar, more than 30 years of experience in Western Australian residential development provides a strong platform from which to navigate these conditions while maintaining its focus on disciplined project selection, construction and capital management.
A positive outlook for FY27
Finbar enters FY27 with three important foundations: record pre-sales, a strong balance sheet and a substantial development pipeline.
The Company also expects changes to federal tax settings taking effect from 1 July 2027 to improve the relative attractiveness of investment in new-build residential property. The reforms are expected to support additional investment in new apartments and contribute to the delivery of rental housing supply.
Finbar CEO Ronald Chan said FY26 demonstrated the strength of the Company’s strategy and its ability to convert its development pipeline into shareholder value.
“FY26 was an important year of delivery for Finbar. We converted our order book into the Company’s strongest reported profit since FY15, met our earnings guidance, further strengthened the balance sheet and increased fully franked returns to shareholders.”
Looking ahead, Mr Chan said the Company’s growth outlook remained strong, supported by its development pipeline and financial position.
“With a development pipeline exceeding $1.8 billion over the next five years, we are well positioned to continue delivering sustainable earnings growth and long-term value for shareholders.”
The focus for FY27 remains clear: disciplined project delivery, capital and cost management, and continued replenishment of the development pipeline.
With record pre-sales providing visibility over future settlements and a substantial pipeline of new opportunities, Finbar enters FY27 with a strong platform for continued growth.
Key FY26 highlights
$20.3 million NPAT, up 40.9% YoY
$22.1 million underlying¹ NPAT, up 36.5% YoY
$204.3 million revenue
$567.2 million record pre-sales at 30 June 2026, up 92.8% YoY
$50.7 million cash balance at year-end, up 39.3% YoY
$36.4 million reduction in net debt
5.5 cents per share in total fully franked FY26 dividends, up 3.5 cents YoY
$515.1 million estimated end value of projects under construction, up 31.7% YoY
$1.8 billion estimated end value across the five-year development pipeline
Watch the FY26 Results Webinar
Hear directly from Finbar Group CEO Ronald Chan as he discusses Finbar’s FY26 financial performance, record pre-sales, project pipeline and outlook for the Western Australian property market.
The FY26 Results Webinar provides investors with further insight into the results and Finbar’s strategy for FY27 and beyond.
Watch the FY26 Results Webinar above.
¹ Underlying NPAT excludes impact of property valuation movement
