Abacus Property Group notches record financial results

Company News

by Jessica Amir

Abacus Property Group (ASX:ABP) has reported record 2017 financial year results, with its net profit attributable to shareholders rising 53 per cent to $285.1 million.

The property fund manager’s total revenues and income also firmed higher, rising by 17 per cent over the 12 months to $463.4 million.

The business attributed its bolstered results to its growth in recurring earnings, while it was also able to deliver strong profits from its transactions.

The group declared a distribution of 8.75 cents per share (cps), payable around 31 August 2017. Its total distribution per security was 17.5 cps.

The company’s cash flow from operations rose to $116.2 million in the FY17, a jump from FY2016’s $91.5 million.

Shares in Abacus Property Group (ASX:ABP) are trading 0.44 per cent higher to $3.42.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.