Folkestone Half Year Results- Strong Growth in Platform Continues

Folkestone (ASX:FLK) today announced its results for the half year ended 31 December 2014.

KEY HIGHLIGHTS

• Net profit after tax of $2.0 million, up 23.0 per cent on pcp
• Funds under management -$870 million
• Secured a strategic holding in Folkestone Education Trust
• Folkestone Social Infrastructure Trust unitholders approved a merger with Folkestone Education Trust
• Launched one unlisted real estate development fund
• Completed development of Stage 1 of Millers Junction and entered into JV for Stage 2
• Expanded its residential land exposure in Melbourne
• Entered into JV to option a key development site in north-west Sydney
• Successfully raised $42 million from a Placement and Entitlement Offer

Please click on the links below to read Folkestone’s:

• ASX Announcement, click here.
• Half Year FY15 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 $870 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