Holidays One Mile Beach holiday park at Port Stephens in NSW
'We deliver freedom of choice'
nomads help Ingenia chalk up
healthy rise in profits
By Dennis Amor
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LIFESTYLE and holiday parks group Ingenia chalked up a healthy increase
in profits during the last financial year, its annual report reveals.
The business has acquired an impressive portfolio of caravan parks and
community villages and is now a major operator and developer of senior
lifestyle and holiday communities across Australia.
It is benefiting from the demand from grey nomads and families for holiday
accommodation by providing over 790,000 "room nights" a year along
Australia's eastern seaboard.
Results for the 2016-17 financial year show Ingenia delivered a statutory
profit of $26.4 million, up 8.8 percent on the previous year.
Underlying profit from continuing operations was $23.5 million,
representing a 16.7 percent increase.
The result was underpinned by a significantly higher EBIT contribution
from the Ingenia Lifestyle and Holidays segment of $28.3 million, up 72
percent from the previous year.
Operating cash flow for the year was $30.3 million, up 43.9 percent and
reflecting growth in recurring rental income and new lifestyle home
settlements growing by 97.2 percent.
Tourism and annual rental income growth of $9 million was driven largely
through new acquisitions, including Ingenia Holidays Avina in October,
2016, and Ingenia Holidays Cairns Coconut in March, 2017.
Ingenia's annual report said it was "strongly positioned" to continue
growing its lifestyle communities business.
"Priorities in existing lifestyle and holiday communities are to integrate
the recent acquisitions and make appropriate investment in key communities
to grow revenue, particularly within the tourism business," it said.
The group would continue to regularly assess the performance of its
existing assets and market opportunities, and make divestments and
acquisitions where superior returns were available.
"At Ingenia we build community using a foundation of integrity and
respect, creating a place where people have a sense of connection and
belonging," the report said.
"We strive for continuous improvement in our resident, guest and visitor
service to ensure that they receive the best possible support, attention
and experience every day.
"Whether it's time to play, stay, rest or renew, we deliver freedom of
choice with a range of lifestyle and holiday options."
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