360 offloads last direct asset

Company News

360 Capital Group (ASX:TGP) has announced an increase in earnings forecasts as the result of a property sale. Woniora Rd, Hurstville will realise a gross sale price of $47 million, a 22 per cent premium to its book value. 
 
It also marks the final direct asset disposal of 360 Capital Groups transition to being a pure fund manager and investment group. 
 
Forecast base earnings for FY2015 have now been lifted by 9.1 per cent to 6 cents per share whilst operating earnings are forecast at over 10 cents per share, at the upper end of previous guidance. 
 
360 Capital Group reported net profit of $28.1 million for the 2014 financial year.