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News and Announcements

Folkestone Ltd (ASX:FLK) Annual Update 2015; Raised $42m & Reported a 122.6% NPAT Increase

  • Published January 05, 2016 3:54PM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

2015 Highlights:

  • Net profit after tax of $7.0 million, up 122.6% on FY14
  • Funds under management of $917 million, up 12.8% on FY14
  • Successfully raised $42 million from a Placement and Entitlement offer
  • Launched the Folkestone Truganina Development Fund
  • Folkestone entered into a JV with the Lyon Group Australia, a leading Sydney property developer, to acquire a site in Sydney’s North-West
  • Launches two new developments
  • Voted Best Performing A-REIT Manager For FY15 by Morningstar Australian Institutional Sector Survey

ABOUT FOLKESTONE:

Folkestone is an ASX listed real estate funds manager and developer which offers listed and unlisted funds to investors. The Company generated a net profit after tax of $7.1m in FY15, an increase of 122.6%, recorded strong growth of more than of 12.8% to $917m FUM and a development pipeline in excess of $1.0bn.

Folkestone manages the Folkestone Maxim A-REIT Securities Fund a high conviction, actively managed fund that gives investors exposure to a mix of quality listed A-REITs that own assets across the retail, residential, commercial, hotel, industrial and real estate related social infrastructure sectors. The Folkestone Maxim A-REIT Securities Fund was the best performing fund in the Morningstar Australian Institutional Sector Survey in FY15.

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