Business Daily Media

The Times Real Estate

.

Walker reports record financial year


Walker Group Holdings has posted a record $675 million after tax profit for the June 2022 fiscal year.

The profit is a 226% increase on last year’s figures and revenue grew to $1.13 billion, coming from the Walker development and investments portfolio.

Founder and Executive Chairman Lang Walker AO said the business had successfully navigated many operating difficulties felt around the world.

“Our mindset has just been about putting our heads down and getting on with the job and our results are reflective of our strong teamwork during some of the toughest economic conditions in recent memory,” Mr Walker said.

“One of the major keys to achieving this result was having everyone working in the office together, enabling us to adapt to the changing conditions better than most.”

Walker has pushed through the current local and global difficulties to increase its total assets by 21% to $8.2 billion, with cash reserves of $394 million and the investment property portfolio increasing to $6.6 billion.

“Parramatta Square is complete and we have secured long term tenancies with major companies who have shifted their workforces out of the Sydney CBD and into our premium office towers,” Mr Walker said.

“We also benefitted from an impressive 12 months of over 1000 residential sales at Riverlea, South Australia’s biggest master-planned community.”

Walker is targeting a stronger year in 2023 with initial forecasts predicting more growth based on financial strength, a very strong team and first-class assets that are being delivered during the financial year.

When Will Infrastructure Companies See Gains from Generative AI?

A lot of questions are swirling about the state of generative AI right now. How far along are companies with their bespoke GenAI efforts? Are orga...

DLPA partners with Crestcom to bring its leadership training solutions

Dynamic Leadership Programs Australia (DLPA), a leading provider of leadership training and workforce strategy solutions, has joined forces with r...

Infosys and Tennis Australia Create New Generative AI Innovations at the Australian Open 2025

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, in partnership with Tennis Australia, has unv...

UBH Group Pioneers Australia's Path to Nuclear Sovereignty

Sovereign technology company, UBH Group, has achieved a landmark milestone as the first organisation in the Southern Hemisphere to secure ISO 1944...

The unsung heroes: How MSPs can safeguard SMBs while boosting profitability

In Australia, small-to-medium-sized businesses (SMBs) form the backbone of the economy, accounting for 95% of all businesses. Yet, they remain pri...

Businesses grapple with wage compliance as new laws take effect

Australian businesses are navigating a landscape of rising compliance complexity as new wage theft laws under The Closing Loopholes Acts take hold...

Sell by LayBy