APN Property Group Reports $16 Million Net Profit for Period Ended 31 December 2015

23rd February 2016, ASX Announcement

Achievements

• Statutory net profit of $16.0 million, up 87% from $8.5 million in the prior comparative period (pcp)
• Operating Earning of $7.2 million, up $3.3 million compared to the pcp (2.41 cents per share (cps))
• Diluted earnings per share up from 4.03 cents to 5.37 cents on increased issued capital
• Funds under Management (FuM) up $152 million to $2.4 billion
• FY2016 Operating Earnings guidance upgraded from 2.00 – 2.30 cps to 3.20 – 3.50 cps
• 1.25 cps interim dividend (fully franked) declared, distribution reinvestment plan activated

APN Property Group Limited (ASX: APD) is pleased to announce a statutory net profit attributable to equity holders of $16.0 million for the 6 months ended 31 December 2015, up from $8.5 million in the prior comparative period.

Mr Chris Aylwad, Executive Chairman said “APN has recorder a strong start to this financial year, despite recent domestic and global economic headwinds that have created heightened market volatility. Our results reflect APN’s strong underlying business fundamentals and those of the funds that we manage, and as a result I am pleased to report that the shares granted to Tim Slattery and Michael Groth in May 2014 under the APN Employee Performance Securities Plan have now fully vested.”

To read the full announcement, please click here.

To view the Results Presentation, please click here.