20th Feb 2014 15:31
20 February 2014
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
CROMWELL RELEASES HALF YEAR RESULTS
Redefine International is pleased to announce that the Cromwell Property Group ("Cromwell"), in which the Company currently has a 13.19% interest, has released its results for the half year ended 31 December 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 six months to 31 December 2013 are set out below:-
CROMWELL DELIVERS RECORD FIRST HALF OPERATING PROFIT
· Statutory profit up 194% to $86.7 million
· Half-year profit from operations up 59% over 1H13 to a record $73.2 million
· Sale of 6 non-core assets for $253 million and purchase of Northpoint Tower
· Increase in external AUM to $1.2 billion, with funds management earnings up 285%
· Gearing reduced to 43%, with debt refinance well advanced
· Full year guidance of at least 8.4 cps earnings and 7.5 cps distributions maintained
Further enquiries:
Redefine International | |
Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting Public Relations Adviser Stephanie Highett, Dido Laurimore |
Tel: +44 (0) 20 7831 3113 |
Marketing Concepts SA Public Relations Adviser Jaclyn Lovell |
Tel: + 27 (0) 11 783 0700 |
JSE Sponsor Java Capital |
Tel: + 27 (0) 11 283 0042 |
Notes to editors:
Redefine International is a UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
Related Shares:
RDI.L