News and Announcements
Folkestone Education Trust Results FY16: Profit of $106.8 million, an Increase of 20.5%
- Published August 09, 2016 4:31PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Folkestone Investment Management Limited as Responsible Entity of the Folkestone Education Trust (“FET” or the “Trust”) provides the results of the Trust for the year ended 30 June 2016.
- Statutory profit of $106.8 million, an increase of 20.5% from $88.6 million in the previous corresponding period (“pcp”)
- Distributable income of $34.5 million, an increase of 16.2% on pcp
- Distribution of 13.4 cents per unit (“cpu”), an increase of 4.7% on pcp
- NTA per unit of $2.14, an increase of 17.6% from 30 June 2015
- Total Unitholders’ return for the year to 30 June 2016 of 34.8%
- New debt facilities were entered into with ANZ and HSBC resulting in the Trust having an average debt maturity of 4 years
- Development pipeline of 18 centres with a total value of $103.4 million. Six development sites commenced operations during the year with a completion value of $26.3 million
An investor teleconference will be held at 2.30pm AEST today. To register for the teleconference, please click on the link below.
For further information on FET’s results, please click on the links below.
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