Aveo Group delivers FY16 targets
Announces acquisition of Retirement Villages Group and equity raising of $125 million
- Underlying profit after tax increased 63% to $89.0 million
- Return on Retirement assets increased to 6.3%
Australia’s leading owner, operator and manager of retirement communities, Aveo Group (ASX: AOG), today released its FY161 results, a year in which it has delivered on all its stated targets at a strategic, financial and operating level.
Aveo delivered an underlying net profit after tax in FY16 of $89.0 million, an increase of 63% on the FY152 result. Assisted by the delivery of 182 new retirement units, the Group’s Retirement EBITDA contribution increased by 62% to $79.9 million.
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