The BWP Trust (ASX: BWP) share price is in focus today after the company reported a 3% lift in revenue to $209.3 million and a 53.8% surge in statutory net profit after tax to $408.4 million for the year ended 30 June 2026.

What did BWP Trust report?

• Revenue rose 3.0% to $209.3 million
• Statutory net profit after tax (including fair value movements) jumped 53.8% to $408.4 million
• Funds from operations (FFO) up 4.5% to $140.9 million; FFO per security rose 2.1% to 19.29 cents
• Total FY26 distributions rose 4.1% to 19.41 cents per security
• Net tangible assets per security increased 3.3% to $4.11
• BWP’s credit rating upgraded by Moody’s to A3 (stable)

What else do investors need to know?

BWP Trust continued to focus on its internalised management structure in FY26, aiming to strengthen alignment between the board, management, and securityholders. The company completed several reset activities over the year, including the acquisition of NPR, resets and extensions to major leases, and a $228 million equity raising.

Portfolio activity included the divestment of non-core assets in Morley, Port Kennedy, and Chadstone, as well as ongoing developments at key sites such as Fountain Gate and Broadmeadows. BWP also acquired two fully leased large format retail centres in Queensland and Victoria, directing its strategy towards growth in this sector.

Looking ahead to the AGM on 29 October 2026, BWP is also progressing its planning for compliance with emerging sustainability and climate-related financial disclosure standards.

What’s next for BWP Trust?

Management expects rental income in FY27 to primarily come from well-known tenants in the Wesfarmers Group and national large-format retail operators. Demand for Bunnings Warehouse properties is expected to be steady, underpinned by strong leasing covenants.

BWP has guided to a FY27 distribution of 20.00 cents per security, roughly 3% growth on FY26. Focus areas for the new year include repurposing former Bunnings sites, capturing positive lease reversions, and targeted asset acquisitions, all while maintaining prudent gearing levels and a payout ratio between 90% and 110% of FFO.

BWP Trust share price snapshot

The BWP share price has marginally outperformed the S&P/ASX 200 index (ASX: XJO) over the last 12 months with a modest 4.5% gain.

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The post BWP Trust profit surges as distributions and portfolio quality rise in FY26 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Iluka Resources Ltd (ASX: ILU) share price is in focus today after releasing its 2026 half-year results, highlighted by strong cash generation and a reduction in net debt.

What did Iluka Resources report?

• Mineral sands revenue: $433 million (down 22% from HY 2025)
• Underlying group EBITDA: $53 million (down 77%)
• Net profit after tax (NPAT): $(24) million (HY 2025: $92 million)
• Operating cash flow: $247 million (up 115%)
• Free cash flow – mineral sands: $200 million (HY 2025: $(192) million)
• Interim dividend: 3 cents per share fully franked (up 50%)

What else do investors need to know?

Iluka commissioned its Balranald mine, with both mining rigs now operating and focus on improved extraction and recoveries as ramp-up continues. The Eneabba rare earths refinery is progressing as scheduled and within budget, with construction now 60% complete and the project benefiting from its first rare earth offtake agreement and strengthened long-term feedstock supply.

The company’s mineral sands business saw improved cash flows driven by inventory sales and higher zircon prices, enabling a significant reduction in mineral sands net debt from $473 million to $273 million since December 2025.

What did Iluka Resources management say?

Speaking about the results, Iluka’s managing director, Tom O’Leary, commented:

In rare earths, the Eneabba refinery has progressed on schedule and budget. All major equipment has been delivered to site, construction is 60% complete and confidence in the project’s capital estimate has continued to strengthen. In parallel, Iluka entered into its first offtake agreement – covering both light and heavy magnet rare earth oxides – and strengthened the refinery’s long term feedstock position.

What’s next for Iluka Resources?

Iluka remains focused on ramping up operations at Balranald, boosting ore extraction and recoveries. The Eneabba rare earths refinery is on track for commissioning in 2027, with management highlighting the project’s backing and strategic timing amidst global demand for rare earths.

The company will continue to prioritise operational execution and balance sheet strength in the second half of 2026, looking to benefit from a recovering zircon market and progressing growth projects.

Iluka Resources share price snapshot

The Iluka Resources share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of around 7.5%.

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The post Iluka Resources shares: 2026 half-year earnings results unravelled appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Mirvac Group (ASX: MGR) share price is on the radar today after announcing a 7% lift in operating profit to $508 million and a 6% increase in distributions to $376 million for FY26, both in line with guidance.

What did Mirvac Group report?

• Operating profit after tax rose 7% to $508 million (FY25: $474 million)
• Operating earnings per stapled security up to 12.9 cents (FY25: 12.0 cpss)
• Statutory profit jumped to $677 million (FY25: $68 million)
• Distribution increased 6% to $376 million, or 9.5 cpss
• Net tangible assets per security of $2.33 (up from $2.26)
• Gearing improved to 24.1% from 27.6%

What else do investors need to know?

Mirvac’s residential divisions saw a 15% increase in sales, with 2,130 residential lots settled and gross margins improving to 24%. The commercial and mixed-use portfolio delivered $88 million in EBIT, supported by project completions and new developments.

Occupancy across the investment portfolio was a strong 98%, with like-for-like income growth at 5.3%. The company also completed over $500 million in asset sales, boosting liquidity and helping to recapitalise its funds platform, which now manages over $18 billion in third-party capital. Mirvac announced an on-market buy-back of up to $200 million in securities as part of its capital management strategy.

What did Mirvac Group management say?

Mirvac’s CEO & Managing Director, Campbell Hanan, said:

FY26 was a year of execution, with earnings growth of 7 per cent. Our results today reflect the work we have done over the past three years to reset the business, improve asset quality and drive higher returns.

Importantly, this has been achieved while strengthening our balance sheet, with gearing within our target range at 24.1 per cent, and strong liquidity and credit ratings maintained. Following the progress we have made to reposition the portfolio, strengthen the balance sheet and improve earnings visibility, we have announced an on-market share buy-back of Mirvac securities of up to $200 million. This reflects our confidence in the value embedded in the business, while providing us with flexibility to deploy capital to opportunities where we see the most value for securityholders.

What’s next for Mirvac Group?

For FY27, Mirvac is targeting operating earnings per security of 13.2 to 13.4 cents and a distribution of 9.9 cents, assuming market conditions remain steady. The company aims to settle between 2,800 and 3,100 residential lots in the coming year, with a weighted average cost of debt expected around 5.7%.

Management expects ongoing support from its expanded residential pipeline, growing funds management platform, and new commercial projects. While some uncertainty remains in the market, Mirvac believes it’s well positioned for sustained earnings and NTA growth.

Mirvac Group share price snapshot

It has been a tough 12 months for the Mirvac Group share price over the past 12 months. During this time, its shares have lost 25% of their value. This compares to a 2% gain by the S&P/ASX 200 index (ASX: XJO).

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.