Mirvac Group ( (AU:MGR) ) has shared an update.
Mirvac Group has reported a 2% increase in total revenue for the first half of 2024, bringing it to $1,284 million compared to $1,261 million in the previous year. However, the company experienced a 6% decline in operating profit after tax, down to $236 million from $252 million. Notably, the profit attributable to stapled security holders saw a significant turnaround, rising from a $201 million loss in 2023 to a $1 million profit in 2024. These results reflect the company’s efforts to stabilize and improve financial performance, which may positively influence its market position and offer cautious optimism for its stakeholders.
More about Mirvac Group
Mirvac Group is a leading integrated property company in Australia, renowned for its operations in real estate development and management, focusing primarily on residential, office, retail, and industrial sectors. The company is engaged in creating high-quality urban environments and sustainable communities, with a strong emphasis on innovation and sustainability.
YTD Price Performance: 7.46%
Average Trading Volume: 56,109
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.01B
See more data about MGR stock on TipRanks’ Stock Analysis page.