Charter Hall sees earnings grow 21% in FY15
A decade after listing on the Australian Securities Exchange (ASX) property funds manager, Charter Hall has recorded a statutory profit after tax of $117.9m, up 43.6 per cent for the 2015 financial year.
Speaking at the company's annual general meeting, last week, Charter Hall chairman, David Clarke, announced the company had posted earnings growth of $98.8 million for the last financial year.
"Our proven strategy remains focused on utilising our property expertise to access, deploy, manage and invest equity in our core real estate sectors to create value and generate superior returns for our customers," he said.
"Today we manage a $14.8 billion high quality portfolio of office, retail, industrial and hospitality assets servicing close to 3,000 tenants on behalf of wholesale, listed and retail investors with the goal of becoming Australia's most highly regarded property investment and funds management business.
"I am pleased to report the Group delivered solid growth across our platform during the 2015 financial year. As a result, we were able to deliver a total securityholder return for the 12 months to 30 June 2015 of 11.8 per cent and over the 12 months to 30 September Charter Hall's total securityholder return was 10.4 per cent.
"In FY15, Charter Hall reported operating earnings of $98.8 million, up 21.7 per cent on the prior year, with an 11.8 per cent compound annual growth rate in OEPS over the past five years. The Board was also pleased to make a full year distribution of 24.2 cents per security, up 8.5 per cent on the prior corresponding year representing a 14 per cent compound annual growth rate in distributions over the past five years."
AUTHOR
Staff Writer
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
