John McBain, Group CEO said “Centuria delivered a record underlying net profit after tax of $10.4 million, which is at the upper end of guidance provided to the market in December. We are pleased that the FY16 fully franked dividend of 5.25 cents per share is in line with our aim to provide consistent earnings and distribution growth over the short and long term.”
Operating Highlights during FY16 included:
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Group funds under management increased 21% from $1.6 billion to $1.9 billion.
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Unlisted property fund acquisitions totaled $265 million.
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Centuria Metropolitan REIT portfolio book increased 9.3% to $400 million with distributions on forecast.
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Strengthened balance sheet supports unlisted acquisitions and acquisition of GMF stake.
FY17 Target:
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Centuria is targeting 25% growth in Group FUM during FY17.
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The acquisition of the $280 million Zenith Tower in partnership with Blackrock in July 2016 will contribute significantly to reaching the FUM target.
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