CVC Limited back in the black with property focus

CVC Limited (ASX:CVC) reported a net profit after tax of $0.5 million for the year ended 30 June 2025, a significant improvement from the prior year's loss of $2.5 million. Total income surged by 70.3% to $40.2 million (FY24: $23.6 million), driven by strategic land holdings and development activities. The company maintained net assets to shareholders at $1.49 per share.

CVC's business model is centered on investing in and optimizing large-scale land holdings, with a focus on capital appreciation. Key investments during the period included $25.0 million in industrial projects in Victoria, $4.3 million in the Liverpool project (NSW), and $1.5 million in the Norwell Valley project. The company anticipates that FY26 will be a significant year with several planning processes expected to complete, potentially leading to further profits from planned and unscheduled divestments.

The board has opted not to pay a final dividend for FY25, prioritizing capital preservation to meet future obligations and explore strategic acquisitions. Net tangible assets per ordinary security remained at $1.49, with management emphasizing that the 'as-is' market value of property inventory, if recognized in accounts, would place net assets per share closer to $2.95.