News and Announcements
Folkestone Returns to Profit in FY13
- Published August 26, 2013 9:21AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX ANNOUNCEMENT
Folkestone (ASX: FLK) today announced its full year result for the year ending 30 June 2013.
Key Highlights:
- 1st full year net profit in 5 years
- Significant increase in funds under management to more than $630 million
- Acquisition of Austock property funds management business
- Two new unlisted real estate income funds closed oversubscribed
- Strong sales at the Officer residential land sub-division
- Stage 1a at The Ranges, Karratha opened and 38 lots of the 41 settled in Stage 1a
- Share price increase of 84 per cent in FY13
The past year was a major milestone for the company with the completion of the transformation of Folkestone from a real estate developer to a real estate funds manager, investor and developer providing real estate wealth solutions to private clients and select institutions.
To read full ASX announcement, please download the document below.
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