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Cedar Woods Properties Limited (ASX:CWP)

ALERT: Price-sensitive ASX Announcement for CWP
Current share price for CWP : $6.900 -0.29 (-4.03%)+
Announcement
Release
30 Apr 2026 8:03AM
Price at Release
$7.190
Full Release
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Summary
Cedar Woods Properties Limited reported strong performance in the third quarter of FY26, achieving 442 gross sales, the second highest in its history. Despite initial limitations due to stock availability, the company saw improvements as more stock was released. Western Australia and Queensland led in market performance, while Victoria lagged. Cedar Woods remains on target for a 30% to 35% NPAT growth for FY26, supported by record presales exceeding $788 million, securing more than 80% of forecast FY27 revenue. The company executed a contract for a site in Springvale, Victoria, for future townhouse development, and maintains robust financial health with a strong balance sheet and low gearing. Enquiries reached record levels, but economic conditions such as rising interest rates and geopolitical conflicts are influencing market sentiment.
Key Points
  • Cedar Woods Properties Limited achieved 442 gross sales during the third quarter of FY26, marking the second strongest result in the company's history.
  • Sales were impacted by lower stock availability but improved with additional stock release.
  • Western Australia and Queensland were the strongest performing markets, while Victoria continued to show weak conditions.
  • The company is on track to meet its FY26 guidance of 30% to 35% NPAT growth.
  • Record presales of over $788 million provide confidence in continued profit growth for FY27.
  • A conditional contract was executed to acquire a 2.1-hectare site in Springvale, Victoria, expected to deliver 91 townhouses.
  • Cedar Woods maintains a strong balance sheet with significant liquidity and low gearing.
  • Potential higher construction costs are factored into acquisition modelling.
  • Customer enquiries hit a record high, with 9,663 enquiries recorded during 3Q26.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.