The owner and operator of Lifestyle, Rental and Holidays portfolios had $2.5 billion in owned or managed property across 102 communities and a development pipeline of over 5,300 land lease home sites at the end of FY24. 

Ingenia Communities Group announced underlying profit of $94.8 million, up 14% on the prior year, with development activity accelerating, and group revenue up 20% to $472.3 million, as it exceeded guidance. 

New Managing Director John Carfi, who started his role in April 2024, has been making progress on reducing costs and simplifying the business.  

“While we were pleased to increase settlements, development returns for some projects remain below target. I have spent considerable time in this area of the business, and we are progressing a range of initiatives that will ensure we move towards targeted returns over the medium term, building development into the growth engine of this business,” he said. 

“I’ve streamlined the executive team to drive accountability and productivity gains and we have also changed our structure, resourcing and approach in development. There is more work to do to maximise value and returns, but we have made good progress.” 

The Ingenia Lifestyle Rental segment delivered full year EBIT growth of 14%. 

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