Centuria Capital Group Limited (ASX:CNI) Group CEO, John McBain, presents the company's 1H19 results.
Highlights:Material AUM growth: - Strong 14.3% platform growth in 1H19 to $5.6bn
- Australia’s third largest real estate acquisition in CY18 ($645m Hines portfolio)
- Investment Bonds new product “LifeGoals” launch positions business for growth opportunities
Capital management initiatives: - Strengthened balance sheet capacity supports further growth opportunities
- Successful $100m equity raise and $80m bond issuance supporting corporate initiatives and increased co-investment in Centuria REITs, CMA (24.9%) and CIP (24.2%)
Operating earnings, distributions and returns: - Delivered 1H19 operating EPS of 6.5cps (1H18 12.1cps)
- FY19 Operating EPS forecast of 12.7cps
- Strong recurring revenue uplift to $42.0m (1H18 $32.1m)
- Delivered 1H19 distribution of 4.25cps (3.7% increase from 1H18)
- Reaffirm FY19 distribution forecast of 9.25cps (12.8% increase from FY18)
- Co-investments annualised total return up 14.3%
- Driven by increased distributions and co-investment stakes
For more, watch Group CEO John McBain present.
