Simonds Group Limited (ASX: SIO) has delivered its strongest financial result since listing on the ASX in 2014, reporting a 950 per cent increase in net profit after tax (NPAT) to $10.5 million for FY26.

FY26 marked a significant year of strategic maturity and operational delivery for the Group, underpinned by the continued execution of its diversification strategy. The multi-channel approach implemented over the preceding 18 months gained momentum, broadening Simonds’ reach across retail customers, wholesale and developer partners, projects, medium-density opportunities and completed housing products.

This broader mix of customers, channels and housing products, together with disciplined execution and ongoing operational improvement, strengthened the Group’s ability to respond to challenging market conditions, affordability pressures and softer customer demand. Revenue increased to $729.1 million, up $63.5 million from $665.6 million in FY25.

“Our statutory NPAT of $10.5 million, up 950 per cent on FY25, reflects the benefits of a more diversified operating model, disciplined execution and ongoing operational improvement across the business,” said Simonds Chief Executive and Executive Chair Rhett Simonds.

“The business is significantly stronger today than it was 12 months ago. We have deliberately built more ways for Simonds to reach customers and respond to demand, while growing volumes, improving margins and strengthening our earnings profile.”

The diversification strategy has broadened the Group’s growth opportunities beyond its traditional retail offering, strengthening its ability to serve individual homebuyers, investors, developers and wholesale partners. The successful integration of Dennis Family Homes supported this strategy, adding to the Group’s product range, regional footprint and operating scale.

“That strategy is delivering. We are capturing opportunities across a wider range of channels and housing products, supported by a stronger operating platform,” Simonds said.

“Having more ways to meet demand gives us greater flexibility as market conditions change and creates a broader foundation for long-term growth.”

As Simonds enters its next phase of growth, the Group has announced the promotion of Shaun Patterson to Deputy CEO, strengthening its leadership capability to support a larger, more diversified national business and execution across strategic growth segments.

Shaun will work alongside Rhett Simonds, who will continue to lead the Group as CEO and Executive Chair, with the pair bringing complementary strengths to lead the next stage of the company’s evolution.

“As we continue to grow, it is important that our leadership structure evolves alongside the business. Shaun’s promotion increases our leadership capacity and positions us strongly for continued growth while maintaining a clear focus on customers, operational excellence and long-term value creation.”

Patterson said the Group was entering FY27 with strong momentum.

“The business has a clear strategy, a stronger operating platform and significant opportunities ahead,” he said.

“I look forward to working with Rhett and the broader team to build on the progress achieved in FY26 and continue delivering for our customers, employees, partners and shareholders.”

The Group also expanded its geographic footprint during the year through the establishment of the Simonds Homes WA joint venture with Atlas, providing a strategic entry into Western Australia.

“Western Australia represents an important long-term growth opportunity for Simonds,” Simonds said.

“Establishing a local presence broadens our reach and creates another pathway for sustainable growth as we continue to build a stronger national business.”

The Group ended FY26 with available liquidity of $39.1 million, including $16.5 million in cash and $22.6 million in undrawn banking facilities, providing a strong platform to support future investment and growth initiatives.

While affordability, interest rates and consumer confidence will continue to influence housing demand, the long-term fundamentals underpinning the Australian housing market remain compelling.

“Australia’s housing supply challenge remains significant and we believe Simonds is well positioned to help meet that demand,” Simonds said.

“With a stronger balance sheet, broader market presence and more diversified operating platform than ever before, we enter FY27 with confidence and a clear focus on delivering sustainable long-term growth for our shareholders.”