News and Announcements
Folkestone Delivers Strong Profit In FY14
- Published August 21, 2014 2:17PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Dear Investors,
Folkestone (ASX:FLK) today announced its full year result for the year ended 30 June 2014.
KEY HIGHLIGHTS
- Net profit after tax of $3.2 million, up 168% on FY13
- Strong growth in funds under management of 29% to $813million
- Launched three unlisted real estate funds
- Folkestone Education Trust raised $45 million and acquired 27 centres and 5 sites
- Secured its first exposure to the Sydney residential development market
- Continued strong sales at the Officer residential land sub-division
- Pre-sold Stage 1 retail development at Altona North into a new Folkestone fund
- FLK equity raising of $25 million significantly oversubscribed
- Total Shareholder Return of 37.5% in FY14
Please click on the links below to read Folkestone’s:
- ASX Announcement, click here.
- FY14 Investor Review, click here.
- Results Presentation, click here.
- Financial Results, click here.
Kind regards
GREG PARAMOR
Managing Director
About Folkestone
Folkestone (ASX:FLK) is an ASX listed real estate funds manager and developer providing real estate wealth solutions. Folkestone’s funds management platform, with $813 million under management, offers listed and unlisted real estate funds to private clients and select institutional investors, while its on balance sheet activities focus on value-add and opportunistic (development) real estate investments www.folkestone.com.au
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