Arvida Group has reported a 1% increase in profit after tax to $90 million for the six months ended 30 September 2023.
However, underlying profit, which is a non-GAAP measure, declined by 14% to $33.6 million.
The company's total assets increased by 10% to $4 billion, and its net tangible asset value per share rose by 4% to $2.
Arvida recorded 285 sales of occupation rights, a 6% increase compared to the same period last year.
It also delivered 94 new retirement units.
The company declared an interim dividend of 1.20 cents per share, with a 2% discount for shareholders who choose to participate in the dividend reinvestment plan.
Looking ahead, Arvida noted early signs of an improving operating environment, with a recovery in the housing market and clearer government policy for the aged care sector.
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