2307 GMT - Barrenjoey was puzzled by Mirvac's decision to keep its earnings guidance unchanged, given efforts to reduce balance-sheet risks in 3Q. Mirvac said yesterday that it sold a residential land parcel to Serenitas. Analyst Ben Brayshaw estimates the deal will generate A$10 million-A$15 million of Ebit, which is equivalent to 0.3 Australian cents/share of operating profit. "This raises the question as to why Mirvac did not upgrade its guidance for FY 2025 Operating EPS of 12.0-12.3 Australian cents," Barrenjoey says. It retains a neutral call on Mirvac. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 30, 2025 19:07 ET (23:07 GMT)
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