News and Announcements
Folkestone Half Year Results to 31 December 2015; Profit Up 53.6%
- Published February 18, 2016 11:02AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
18th February 2016
Folkestone (ASX:FLK) today announced its results for the six months ended 31 December 2015.
Key Highlights
- Net profit after tax of $3.0 million, up 53.6% on HY15
- Earnings per share of 2.0 cents, up 11.1% on HY15
- Net asset value (NAV) per share of 91.6 cents, up 17.3% on HY15
- Funds under management of $964 million, up 10.8% on HY15
- Completed the West Ryde residential apartment development – generating a 79% return on FLK’s equity
- Acquired a 50% interest in two residential development opportunities in Sydney and Melbourne
- Secured strong pre-sales across FLK’s active developments
- Folkestone Education Trust performed strongly with a total return of 11.0% compared to the benchmark of 7.2% and contributed $4.6 million in management fees/distributions and $3.6 million in unrealised gains to FLK on its unitholding
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