Mirvac Group (ASX:MGR) First Half 2023 Results
Key Financial Results
Revenue: AU$829.0m (down 37% from 1H 2022).
Net income: AU$215.0m (down 62% from 1H 2022).
Profit margin: 26% (down from 43% in 1H 2022). The decrease in margin was driven by lower revenue.
EPS: AU$0.055 (down from AU$0.14 in 1H 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Mirvac Group Earnings Insights
Looking ahead, revenue is expected to fall by 6.0% p.a. on average during the next 3 years compared to a 4.3% decline forecast for the REITs industry in Australia.
The company's shares are down 7.0% from a week ago.
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Mirvac Group (1 doesn't sit too well with us) you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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