
APN Property Group is pleased to announce its results for the half-year ended 31 December 2019.
Key highlights
- Operating Earnings1 up 33% to $6.4 million (HY2019: $4.8 million), with 98% of earnings generated from recurring sources
- Operating Earnings 2.03 cents per security (cps)
- Statutory net profit after tax of $17.4 million (HY2019: $6.0 million)
- Funds Under Management up $138 million or 5% to $3.1 billion
- Strong and flexible balance sheet with net tangible assets of $138.1 million and cash of $15.6 million2; NTA per share of 43.4 cents (up 8% versus June 2019)
- Strong results including asset acquisitions, material leasing and asset improvement projects across $1.4 billion of direct property funds
- Interim distribution declared of 1.60 cps; full year FY2020 distribution guidance reaffirmed at 3.15 cps
- Stapling transactions completed in December 2019
For full details of the results, please click on the following:
HY2020 Financial Report and Appendix 4D
For further information, please visit the APN Property Group shareholder page at https://apngroup.com.au/shareholders/