MELBOURNE: Simonds Group Ltd. (ASX: SIO) on Monday reported a 90% year-on-year increase in normalised net profit after tax (NPAT) from continuing operations, reaching $5.7 million for the financial year ended June 30, 2025, driven by margin improvements and strategic expansion.
The residential construction firm posted $665.6 million in revenue, up slightly from $663.5 million in FY24, while EBITDA rose to $24.0 million from $23.3 million. Reported NPAT fell to $1.0 million, impacted by $6.2 million in one-off transaction and integration costs related to the acquisition of Dennis Family Homes (DFH) in February.
“The completion of the DFH acquisition was a significant milestone, expanding our display footprint and strengthening our capability to scale sustainably,” said CEO and Executive Chair Rhett Simonds. “We enter FY26 with real momentum and a clear strategic focus.”
Simonds cited strong cash conversion and improved operational productivity as key contributors to its liquidity position, with $47.7 million available as of June 30, including $23.3 million in cash and $24.4 million in undrawn banking facilities.
Looking ahead, the company expects modest recovery in housing starts, supported by easing interest rates and increased land sales in Victoria. Simonds plans to leverage its investment in medium-density housing to meet growing demand for affordable, smaller-lot solutions.
No dividend was declared for FY25, with the board prioritizing the rebuilding of the company’s net asset position.