AVJennings Q1 FY25 Update

AVJennings (ASX:AVJ) has released its Q1 FY25 business update, highlighting significant developments. The company achieved a 29% increase in settlements, valued at $50.4 million, compared to the same period last year. However, unconditional retail contracts signed did not meet expectations. The company is making strides in its joint venture with Pro9, focusing on innovative walling technology. Market conditions are favorable in Southeast Queensland and South Australia, with signs of recovery in New South Wales and Victoria.

AVJennings Strategic Outlook and Developments

AVJennings has reported a positive start to FY25 with a notable increase in settlements, although the number of unconditional retail contracts signed was lower than expected. The company's joint venture with Pro9 shows promising progress, with over 70 homes in the pipeline featuring innovative walling technology. AVJennings is strategically focusing on capital allocation in stronger markets and maintaining disciplined capital management. The board is undergoing a refresh, and the company is actively pursuing growth opportunities through capital partnerships. Market conditions are robust in Southeast Queensland and South Australia, with recovery signs in New South Wales and Victoria. Overall, the company remains focused on modernizing its business and enhancing shareholder value.

Executive Commentary on AVJennings Performance

Our focus remains on modernizing the business, optimizing our project pipeline, and leveraging Pro9 technology. We are actively seeking capital partnering opportunities to drive growth and enhance shareholder value.