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Cedar Woods Properties Limited (ASX: CWP)
Cedar Woods Properties Limited (ASX: CWP), on 19 February 2025, reported a significant increase in net profit after tax (NPAT) for the first half of the 2025 financial year, reaching $15.0 million compared to $2.6 million in the previous corresponding period. Revenue surged by 59% to $196 million, with a stable gross margin of 26%. The company has declared a fully franked interim dividend of 10.0 cents per share, marking a 25% increase from the previous year.
Having record presales of $642 million, Cedar Woods is forecasting a stronger profit outcome for the second half of FY25 and a minimum 10% growth in full-year NPAT. More than half of the expected FY26 revenue has already been secured through presales. The company continues to experience strong demand for its properties, driven by low unemployment, high population growth, and a nationwide housing shortage.
Cedar Woods has maintained a solid financial position, with net bank debt at $185 million as of December 31, 2024. Gearing is expected to decrease in the second half due to higher settlements, and the company has significant undrawn finance facilities. Recent acquisitions, such as an 18.6-hectare site in Corio, Victoria, further reinforce its growth strategy.
The property market remains strong in Western Australia, Queensland, and South Australia, while Victoria faces weaker conditions. Nationwide housing shortages and population growth continue to support demand. The Reserve Bank's anticipated interest rate cuts in 2025 could further stimulate housing demand, potentially driving prices higher. Cedar Woods remains well-positioned for continued growth, though it acknowledges potential risks related to property market fluctuations and construction sector challenges.
IPH Limited (ASX: IPH),
IPH Limited (ASX: IPH), on 20 February 2025, reported strong financial performance for the half-year ended 31 December 2024 (HY25), delivering a 20% increase in Underlying Net Profit After Tax (NPAT) to $61.0 million. This growth equates to an Underlying Diluted Earnings Per Share (EPS) of 22.8 cents, compared to 21.2 cents in the prior corresponding period (HY24). Statutory NPAT also saw a significant rise of 78%, reaching $37.3 million, with Diluted EPS increasing to 13.9 cents per share from 8.8 cents in HY24.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 11% to $100.5 million, reflecting solid organic growth in Australia and New Zealand, alongside the benefits of recent acquisitions in Canada. A key highlight of the period was the recovery in Asia, where IPH recorded a 10% increase in patent filings compared to the previous corresponding period.
IPH maintained a strong capital management strategy, achieving a cash conversion ratio of 100%. This financial strength enabled the company to increase its interim dividend by 6%. Additionally, in December 2024, IPH implemented an on-market share buyback as part of its efforts to enhance shareholder value.
The company’s results highlight its ability to drive organic growth while integrating acquisitions successfully. With improving market conditions in Asia and continued expansion strategies, IPH remains well-positioned for sustained growth in the intellectual property services sector.
(Source: Company's Report)
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