Australian Unity Office Property Fund see profit fall in 1H19

Company News

by Rachael Jones

Insurance company Australian Unity Office Property Fund (ASX:AOF) have released their figures for their half year results showing statutory net profit is $13.1 million down $13.2 million from $26.3 million in the same corresponding period.

Funds from operations is $14.2 million or 8.7 cents per unit which was $1.1 million or 0.1 cents per unit higher that first half 2018.

This is mainly due to higher valuation increases in 1H FY18 compared to 1H FY19

Portfolio occupancy increased to 95.1 per cent up from 95 per cent at June 2018.

Barring unforeseen changes to operating conditions, AOF reconfirms funds from operations for the full year 2019 of between 17.2 and 17.4 cents per unit.

Shares in Australian Unity Office Property Fund (ASX:AOF) Shares are flat at $2.73

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.