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News and Announcements

Folkestone Half Year Results to 31 December 2015; Profit Up 53.6%

  • Published February 18, 2016 11:02AM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

18th February 2016

Folkestone (ASX:FLK) today announced its results for the six months ended 31 December 2015.

Key Highlights

  • Net profit after tax of $3.0 million, up 53.6% on HY15
  • Earnings per share of 2.0 cents, up 11.1% on HY15
  • Net asset value (NAV) per share of 91.6 cents, up 17.3% on HY15
  • Funds under management of $964 million, up 10.8% on HY15
  • Completed the West Ryde residential apartment development – generating a 79% return on FLK’s equity
  • Acquired a 50% interest in two residential development opportunities in Sydney and Melbourne
  • Secured strong pre-sales across FLK’s active developments
  • Folkestone Education Trust performed strongly with a total return of 11.0% compared to the benchmark of 7.2% and contributed $4.6 million in management fees/distributions and $3.6 million in unrealised gains to FLK on its unitholding

For further information, please click on the links below:

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