Charter Hall achieves 29% FUM growth to $17.5 billion

Charter Hall achieves 29% FUM growth to $17.5 billion
Charter Hall achieves 29% FUM growth to $17.5 billion

Charter Hall Group have announced its full year results for the 12 months to June 30 2016, showing a statutory profit after tax of $215.2 million.

Profits were up $97.3 million from FY15, with operating earnings of $124.7 million, up 26.2 percent.

The Group's FUM increased $3.9 billion, the equivalent to 29 percent, to $17.5 billion, reflecting a 15.9 percent annual growth rate since June 2010.

The continued growth was driven by $2.3 billion of net acquisitions, $1.1 billion of revaulations and $500 million of development capex.

The high quality and diversified $17.5 billion portfolio comprises 296 properties, leased to 2,550 tenants delivering $1.3 billion of gross rental income. 

"Growth of 29 percent in FUM to $17.5 billion and 10.5 percent OEPS growth reflects the Group's strategy focusing on accessing, deploying, managing and investing capital," said Charter Halls' Group CEO and managing director David Harrison.

The Group's property investments increased by $154 million to $1.1 billion, generating an earnings yield of 7.4 percent per annum.

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Charter Hall achieves 29% FUM growth to .5 billion

The total portfolio occupancy remained strong at 98.6 percent and the weighted average lease expiry stable at 8.8 years.

“We are proud to highlight that the Group’s Property Investments have consistently outperformed their respective benchmarks," Harrison said.

The total property return from our Property Investments over five years of 16.0% p.a. has outperformed the MSCI/IPD Unlisted Wholesale Pooled Property Funds Index of 9.7% p.a. over the same period.”. 

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Charter Hall achieves 29% FUM growth to .5 billion

Financial highlights:

  •   Statutory profit after tax of $215.2 million, up $97.3 million

  •   Operating earnings of $124.7 million, up 26.2%

  •   Operating earnings per security of 30.4 cents, up 10.5%

  •   Distribution per security of 26.9 cents, up 11.2%

  •   Net Tangible Assets per security of $3.04, up 10.1% Operational performance:

  •   Access: Gross equity inflows of $1.5 billion from diversified equity sources.

  •   Deploy: Completed $3.7 billion of property transactions. $3.0 billion in acquisitions, $0.7 billion in non-core divestments.

  •   Manage: 29% growth in funds under management (FUM) to $17.5 billion. Completed 545 leasing transactions.

  •   Invest: Net $56 million invested alongside our capital partners. 6.46% WACR and 7.9% discount rate. Property Investment earnings growth of 26.4%.

     

     

     

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Charter Hall Profit Growth

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