Business
Mirvac to focus on build-to-rent as pandemic hits the profit line – Sydney Morning Herald
Property group Mirvac will focus on the burgeoning build-to-rent sector and says its diversified asset base has helped it survive through the global pandemic.
Mirvac chief executive Susan Lloyd-Hurwitz said despite the pandemic, the group delivered solid results for the half year with an operating profit after tax of $276 million, an increase of 10 per cent from second half of the 2020 year to June 30.
As a result, Mirvac has initiated guidance for the full 2021 year, with operating earnings per share guidance of between 13.1¢ to 13.5¢ per stapled security and distribution guidance of 9.6¢ to 9.8¢ for the year ending June 2021.
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