Charter Hall Group
(ASX:CHC) has revealed a slight fall in its first half profit but boosted its full-year guidance as it unveils a capital raising.
The property investor’s net profit dipped 4.3 per cent to $28.6 million in the last six months of 2013 while operating earnings rose by 13.1 per cent and revenue gained 3.1 per cent.
Charter Hall has attributed the result to a strong operational performance having driven property investment earnings growth.
The company has also boosted its full-year guidance and expects operating earnings per security growth of between 7 per cent to 9 per cent.
Separately, Charter Hall has stepped into a trading halt today as it prepares a capital raising comprising of a fully underwritten $140 million institutional placement.
An interim dividend of 11 cents per share has been declared.
