Astro Japan Property Group
(ASX:AJA) has revised downwards its earnings guidance for FY16 as a result of a performance fee now likely to be due to its Japan Asset Manager.
The performance fee is related to Astro’s out-performance of the ASX 200 Property Accumulation Index for this financial year.
Initial underlying profits after tax are now expected to be in the range of 47.8 to 51.1 cents per share.
The Astro board has confirmed that portfolio operating performance remains broadly in line with expectations and there has been no change in the distribution guidance of 18 cents per security for the H2 FY2016.
Astro Japan Property Group reported a net profit of $54.22 million at 31 December 2015.
