Statutory profit for Charter Hall Long Wale REIT hit $83.3m

Company News

by Rachael Jones

Charter Hall Long Wale REIT (ASX:CLW) announced its statutory profit hit $83.3 million for the 2018 financial year.

Meantime in good news for the property manager, its revenue strengthened over the year, rising $23.4 million to $69 million.

Its operating earnings also lifted, rising over $20 million, hitting $58.4 million.

The company declared a higher distribution in FY18 of 26.4 cents per security (CPS), paying out 59.8 million.

Shares in Charter Hall Long Wale REIT (ASX:CLW) closed 0.95 per cent higher to $4.25 yesterday