Cromwell Property Group see 11% increase in operating profit

Company News

by Rachael Jones

Real estate investor and manager Cromwell Property Group (ASX:CMW) today reported full-year statutory profit of $159.9 million a drop from last year's $204.1 million.

Operating profit up 11.1 per cent to $174.2 million, compared to last year's $156.8 million.

As at 30 June 2019, Cromwell had more than 3,800 tenant customers in 15 countries, leasing over 3.7 million sqm of space.

Total assets under management (AUM) were $11.9 billion.

Last week, Cromwell announced the acquisition of a 35 level building in Brisbane for $524.75 million.

Shares in Cromwell Property Group (ASX:CMW) are trading 1.21 per cent lower at $1.23.

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.