28 Aug 2013 11:00
28 August 2013
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
Cromwell Releases Year End Results
Redefine International is pleased to announce that the Cromwell Property Group ("Cromwell"), in which the Company currently has a 13.72% interest, has released its results for the year ended 30 June 2013. Cromwell is an Australian Property Trust listed on the Australian Stock Exchange. The Company's interest is held through its wholly-owned subsidiary Redefine Australian Investments Limited.
Cromwell's financial report and presentation can be found on its website: http://www.cromwell.com.au/aboutcromwell/newsroom/.
The highlights for the year are set out below:-
CROMWELL OUTPERFORMS WITH FULL YEAR OPERATING EARNINGS
· Operating earnings up 28% to $102.4 million (7.6 cps) and full year distributions of 7.25 cps
· Statutory accounting profit of $46.2 million (3.4 cps)
· Acquisitions totalling $641 million increased value of portfolio to $2.4 billion with NTA of 70 cps
· Strong increase in contribution from funds management business
· Forecast FY14 operating earnings of 8.3 cps and distributions of 7.5 cps
Further enquiries:
Redefine International Property Management Limited Investment Adviser |
|
Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting Public Relations Adviser |
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Stephanie Highett, Dido Laurimore | Tel: +44 (0) 20 7831 3113 |