Mirvac has posted a strong lift in full-year profit and say it is well positioned to deliver further earnings growth in fiscal 2016.
In the year to June 30, Mirvac posted a net profit of $609.9 million, a 36 per cent increase on the previous year's $447.3m.
Operating profit, before specific non-cash and significant items, rose 4 per cent to $454.8m.
Revenue in the same period was $2.15 billion, a 9 per cent increase on the previous year.
The group expects fiscal 2016 operating earnings per share of between 12.7c per stapled security to 13c per stapled security, which is likely to be skewed to the second half.
Mirvac chief executive Susan Lloyd-Hurwitz, said the full-year results came in at the top end of the group's guidance range.
"Our focus on repositioning the business over the past few years has resulted in a high quality investment portfolio comprised of well-located assets and a robust residential development pipeline that provides us with excellent visibility of earnings over the next five years," she said.
“Our capital position is strong, supported by a number of important capital partnering initiatives, and we continue to drive an improved return on invested capital through our development activities.”
The property group will pay an unfranked final dividend of 4.9c per share to shareholders on the register at June 30.
Combined with the interim dividend of 4.5c per share, Mirvac's total dividend for the year comes to 9.4c per share.
Mirvac is eying an increased total dividend in fiscal 2016, between 9.7c to 9.9c