News and Announcements
AET Results for the Year Ended 30 June 2013
- Published August 20, 2013 3:20PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX ANNOUNCEMENT
Folkestone Investment Management Limited (FIML) as the Responsible Entity of the Australian Education Trust (AET or the Trust) (ASX:AEU) provides the results of the Trust for the year ended 30 June 2013. AET is an ASX listed property trust investing in early learning property assets.
KEY HIGHLIGHTS SUMMARY
- Statutory profit of $39.7 million, up 71.1% from $23.2 million in the previous corresponding period (“pcp”).
- Distributable income of $19.0 million, an increase of 6.7% on pcp.
- FY13 distribution of 10.7 cpu, an increase of 7.0% on pcp.
- New debt facility with improved terms, lower debt cost and extended maturity to February 2016.
- Gearing at 34.1% as at 30 June 2013.
- Independent valuations of 138 properties achieving an average 8.2% increase in value.
- NTA per unit of $1.33, an increase of 9.9% on pcp.
- 99% occupancy across the portfolio.
- Market capitalisation increased by 36.3% to $244 million for the year to 30 June 2013.
- Total Unitholders’ return for the year to 30 June 2013 of 47%.
- Forecast FY14 distribution of 12.0 cpu.
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