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.

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