2351 GMT - Mirvac's share price advances 4.3% after its 1H operating EPS beat consensus hopes by 7% and it gave investors more confidence around the outlook for residential property. Mirvac exchanged 947 residential lots in 1H, with 601 of those sales happening in 2Q. This sales performance was helped by the launch of the Harbourside project in Sydney. Citi analyst Suraj Nebhani highlights that Mirvac has another 400 conditional sales, which provides visibility about future revenue. "The stock has been weak into the results, and we believe the stronger EPS result as well as the positive sales result in 2Q, should see the stock perform well today," Citi says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 13, 2025 18:51 ET (23:51 GMT)
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