Charter Hall announces strong Half Year Results

05/04/2007 - PDF Version Available

Charter Hall Group (ASX: CHC) reports that the December 2006 interim results are in line with the FY07 forecast and announces a net profit before tax of $16.7million for the period 1 July to 31 December 2006. This result signifies the continued growth of the Charter Hall Group and further cements its position as a leading property fund manager in Australia.

The Group's total income of $27.3 million represents an $11.5 million or 73 per cent increase on the previous reporting period.

The market capitalisation of the Group has grown from $270 million at the time of listing in June 2005 to in excess of $900 million. As a result investors have enjoyed a total return of 89.2 percent over the past half year, making Charter Hall one of the strongest performing property groups in Australia.

Joint Managing Director, David Harrison said "the successful launch of the core plus series of funds has accelerated the growth of assets under management and the 20 per cent coinvestment business model has been embraced by investors. In addition, the growth in funds under management is providing the Group with significant additional recurring earnings streams".


This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

CHFML does not receive fees in respect of the general financial product advice it may provide, however they will receive fees for operating the schemes of which it is the responsible entity ("Schemes") which, in accordance with the Schemes' Constitutions, are calculated by reference to the value of the assets of the Schemes. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Schemes. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).