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PEET 25 February 2021 Peet Group 1H21 financial results Peet Limited ( ASX : PPC ) ( " The Group " or " Peet ” ) today announced its results for the half year ended 31 December 2020 ( " 1H21 ” ) . Key Results¹ • Operating profit² and statutory profit³ after tax of $ 10.1 million , up 101 % • Earnings per share of 2.1 cents , up 100 % • 1,522 lots sold , up 50 % on 1H20 and 16 % on 2H20 • 1,254 lots settled , up 62 % ASX RELEASE • • • 2,054 contracts on hand as at 31 December 2020 , up 15 % since 30 June 2020 Gearing 5 of 30.0 % Fully franked interim dividend of 1.0 cent per share The Peet Group achieved an operating profit² and statutory profit³ after tax of $ 10.1 million for the half - year ended 31 December 2020 , which represents an increase of 101 % compared with the previous corresponding period . The Group derived EBITDA of $ 20.9 million in 1H21 , compared to $ 12.7 million for the previous corresponding period , on an increased EBITDA margin of 21 % , compared to 14 % in 1H20 . Peet's Managing Director and Chief Executive Officer , Brendan Gore commented : " Our performance during 1H21 was achieved on the back of improved market conditions and accommodative government stimulus in response to COVID - 19 . The margin increase represents a combination of a significantly improved performance across the Funds Management and Joint Venture businesses and a reduction in expenses as the Group progresses its cost - outs . The performance has resulted in earnings per share increasing 100 % to 2.1 cents , compared with the previous corresponding period . 1 Comparative period is half year ended 31 December 2019 unless stated otherwise . The non - IFRS measures have not been audited . 2 Operating profit is a non - IFRS measure that is determined to present the ongoing activities of the Group in a way that reflects its operating performance . Operating profit excludes unrealised fair value gains / ( losses ) arising from the effect of revaluing assets and liabilities and adjustments for realised transactions outside the core ongoing business activities . 3 Statutory profit after tax means net profit measured in accordance with Australian Accounting Standards , attributable to the owners of Peet Limited . 4 Includes equivalent lots . 5 Calculated as ( Total interest - bearing liabilities ( including land vendor liabilities ) less cash ) / ( Total assets less cash , less intangible assets ) . 6 EBITDA is a non - IFRIS measure that includes effects of non - cash movements in investments in associates and joint ventures . Level 7 , 200 St Georges Terrace , Perth WA 6000 | PO Box 7224 , Cloisters Square WA 6850 Telephone 08 9420 1111 | Facsimile 08 9481 4712 | Email perth@peet.com.au | peet.com.au Perth Melbourne | Brisbane | Canberra | Adelaide | Darwin Peet Limited | ACN 008 665 834