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Cromwell Releases Year End Results

28th Aug 2013 11:00

RNS Number : 6274M
Redefine International PLC
28 August 2013
 



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

 

 

 

Stephanie Highett, Dido Laurimore

Tel: +44 (0) 20 7831 3113

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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