- Underlying net profit guidance for FY16 of over $80 million, resulting in at least a 45% increase on FY15
- On track to meet FY16 and FY18 strategic plan targets
The pure retirement strategy of Australia’s leading owner, operator and manager of retirement communities, Aveo Group, has enabled it to deliver a record retirement result in FY15.
Aveo delivered an underlying net profit after tax in FY15 of $54.7 million, an increase of 30% on the FY14 result. This was driven by record total retirement unit sales of 721 for the year.
Aveo Group Chief Executive Officer Geoff Grady said: “Our strong financial results in FY15 and record retirement business performance are a direct consequence of the pure retirement strategy that we launched in mid-2013. Our non-retirement asset sales are progressing well and acquisitions continue to expand the retirement development pipeline. We are on track to achieve our stated FY16 and FY18 return on retirement assets targets of 6.0% - 6.5% and 7.5% - 8.0% respectively.”
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