Peet Limited demonstrates impressive financial performance with H1 FY26 net operating profit surging 102% to $50.9 million. The property development company has upgraded its full-year NPAT guidance to $86-90 million, reflecting strong market momentum. Landbank activation at 76% supports a robust sales pipeline, with 1,773 lots sold and 1,496 lots settled during the period. Contracts on hand increased 27% to $776 million, indicating solid future revenue potential. The company maintains a conservative balance sheet with 24.7% gearing and over $200 million in cash and undrawn facilities. An interim fully franked dividend of 6.5 cents per share will be paid, and an on-market share buyback has reduced share count by approximately 4%. Peet anticipates continued growth across key Australian markets, with three new projects expected in FY27 and a total land development value of $12.2 billion.
