APN Property Reports Net Profit of $12.6 million

24th August 2015, ASX Announcement

Highlights

• Statutory net profit of $12.6 million, up 69% from 7.4 million in the prior comparative period
• Operating earnings (after tax) and MI up to $2.0 million to $6.9 million or 3.05 cents per share (cps)
• Diluted earnings per share up 1.65 cents to 5.58 cents
• Funds under Management (FuM) at $2.2 billion, up 10% from June 30 2014
• $30 million of new equity issued at $0.37 to support existing funds and further growth initiatives
• Fully franked final dividend of 0.25 cps declared, delivering 1.5 cps fully franked for FY2015

APN Property Group Limited (ASX : APD) is pleased to announce a statutory net profit attributable to equity holders of $12.6 million for the year ended  30 June 2015, up from $7.4 million in the prior comparative period (pcp). Diluted earnings per share increased to 5.58 cents and the Directors are pleased to introduce a fully franked final dividend of 0.25 cps, bring the total for the year to 1.50 cps.

Mr Tim Slattery, Executive Director said “This result reflects the continued strong performance from the APN AREIT Fund, Generation Healthcare REIT and our Direct Funds division. We are pleased to report our reucurrig income represented 75%of our total net income in FY2015 and that operating earning after tax increased 41% while costs were broadly flat versus the previous year.

To read the full announcement, please click here. 

To read the FY 2015 Results Presentation, please click here.