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.