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Mirvac Group (ASX:MGR) has narrowed its full year earnings guidance after lifting first half profit and dividend.
The property group says its net profit grew more than 300 per cent to $246.1 million in the last six months of 2013.
The result was achieved in the same period Mirvac acquired almost $700 million of assets and reached a record $1.5 billion in residential pre-sales.
CEO and Managing Director Susan Lloyd-Hurwitz says Mirvac Property Trust’s stable earnings and a high percentage of development earnings already secured has given the company confidence in its full-year performance.
The company has forecast its full-year earnings will now reach between 11.8 cents to 12 cents per security.
An unfranked interim dividend of 4.4 cents per security has been declared, rising from 4.2 cents the year before.
