This article is from the Australian Property Journal archive
WALKER Group has reported a record $675 million after profit for the 2022 financial year, against a backdrop of global operating turbulence.
The record profit is a 226% increase on the previous year’s gains, with revenue growing to $1.13 billion from the Walker development and investments portfolio.
“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,” said Lang Walker AO, founder and executive chairman at Walker Group Holdings.
“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 also increased its total assets by value up $8.2 billion, up 21%. While reserves were at $394 million and the investment property portfolio grew 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,” said Walker.
Over the financial year, Walker’s $3.2 billion Parramatta Square precinct secured major tenants including Deloitte Australia and national broadcaster, the ABC.
“We also benefitted from an impressive 12 months of over 1000 residential sales at Riverlea, South Australia’s biggest master-planned community,” added Walker.
The $3 billion Riverlea Park in Playford was officially named as a new Adelaide suburb back in February, set to comprise 30,000 residents and bring four new schools, four retail and homemaker precincts, sports facilities and community centres to North Adelaide.
For 2023, Walker Group Holdings in targeting a stronger year, with initial outlooks suggesting ongoing growth from financial strength, a strong team and high-quality assets being delivered throughout the financial year.
