Strategic property acquisitions support REIT AUM growth
Sydney, 13 February 2019: Centuria Capital Group (ASX:CNI) today announced half-year results for the period to 31st December 2018. Highlights include:
• Strong 14.3% AUM growth in 1H19 to $5.6 billion, underpinned by 20% increase in real estate AUM to $4.8 billion, from:
- Property acquisitions, valued at $740 million, including the Hines portfolio, and
- $160 million revaluation uplift, driven by significant leasing and asset repositioning
• Delivered operating net profit after tax (NPAT) of $21.7 million
• Delivered 1H19 operating earnings per share (EPS) of 6.5cp
• 64% increase in co-investment earnings to $15.4 million
• Recurring revenue growth of $42 million, up 30.8%
• Expanded investment bonds offering with launch of Centuria LifeGoals
• Delivered a 3.7% increase in 1H19 distribution of 4.25 cents per share (cps)
• FY19 distribution guidance reaffirmed at 9.25cps
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