Australian Unity Office Fund reconfirms operations guidance

Company News

by Kathy Skantzos

Australian Unity Office Fund (ASX:AOF) has reconfirmed its guidance for its funds from operations for the full year of 17.1 and 17.3 cents per unit.

The fund reported a 16.5 per cent increase in statutory net profit, which is a 5.6 per cent drop in profits after tax attributable to members, for the half year compared to the same time the previous year.

Net tangible assets increased to $2.31 per unit, while revenue increased 12.8 per cent.

The fund delivered funds from operations of $13.1 million, or 8.6 cents per unit, which is $1 million more than forecast of $12.1 million

The company’s portfolio increased to $574.8 million, primarily due to the acquisition a Brisbane tower in October 2017, which is its first acquisition since listing in June 2016.

Australian Unity Office Fund Manager Grant Nichols says the company has delivered or exceeded its financial forecasts and has generated significant growth since listing.

Shares in Australian Unity Office Fund (ASX:AOF) are trading 0.9 per cent higher at $2.23.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.