The Victorian land lease developer, owner and operator issued a trading update to the ASX on 30 May.
Lifestyle Communities said new home settlements for FY23 are expected to be in the range of 355 to 365 and the company maintains its previous guidance of delivering between 1,100 to 1,300 and 1,400 to 1,700 new home settlements between FY22 and FY24 and FY23 and FY25 respectively.
Its underlying profit is expected to be similar to that of FY22 ($61.4 million).
“The scale of new projects under development is unprecedented for our business, and it’s been an exciting time as we complete the launch of seven new projects in FY23,” said Co-Founder and Managing Director James Kelly (pictured).
“These new projects are a key catalyst for a planned step up in settlements in the second half of FY24 and into FY25 and underpin delivery of our three-year settlement target ranges. By the end of June, we will have 11 projects under development and in various stages of completion, providing a total pipeline of 5,599 homes with 3,550 completed and settled across 28 communities.”
Lifestyle Communities said new home settlements are expected to be between 355 to 365 in FY23, with six of the seven project launches completed.
It will welcome its 5,000th homeowner this month.
