Lifestyle Communities (ASX:LIC) on Tuesday said that it is expecting operating earnings after tax for the fiscal first half ending Dec. 31 to range between AU$19.5 million and AU$22 million, according to a same-day filing with the Australian bourse.

The real estate company also forecasts settlements to be between 120 and 130, with 92 new home settlements achieved by Oct. 24, and 321 deposits on hand as of October's end, the filing said.

Meanwhile, the planned development spend for fiscal 2025 has been adjusted to approximately AU$175 million from AU$280 million, based on expected settlement revenue, according to the filing.

Shares fell 4% in afternoon trade.