Real estate group Mirvac says it is on track to deliver its full-year residential targets after posting a strong lift in first-half profit.
Mirvac posted a profit of $279 million for the six months to December 31, up 13 per cent on the first half of the 2014 financial year.
The group's first-half revenue increased 17 per cent on the prior corresponding period, up to $1.14 billion.
Mirvac will pay an unfranked dividend of 4.5c, up a fraction from the 4.4c dividend the group paid for the first half of the 2014 financial year.
The group said it was on track to deliver its full 2015 financial year targets. Mirvac said it was well positioned to achieve over 2,200 lot settlements in the fiscal year, and remained focussed on maintaining a normalised residential gross margin of 18 to 22 per cent.
Mirvac reaffirmed its previous full-year distribution guidance of 9.2 to 9.4c per share.