The listed company delivered total comprehensive income before tax of $69.9M, up 12% YoY.
The group emphasises tight cost control and identifying land to be purchased at low costs.
It is keeping its prices below the median two-bedroom house price and below competitors. Its income before tax increased 12% to $69.9 million and it has nine active development sites.
Aspen has spent $52 million in FY24 in acquisitions, with its latest being a $2.2 million investment on an over 55s community with 36 homes in Vivesh, in Perth’s eastern suburbs. It will spend $2.3 million in refurbishment.
Aspen has submitted a development application to build 300 homes (181 lifestyle and 119 tourism) at Normanville on the South Australian Fleurieu Peninsula.
It also owns 36% of rental village operator Eureka Group, which it unsuccessfully tried to buy in June 2023. Eureka appointed Simon Owen, the former Ingenia Communities CEO and Managing Director, as its Chief Executive on 15 August.
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