Folkestone Education Trust HY16 Results
LINKEDIN
FACEBOOK
TWITTER
EMAIL
3 mins
Download
Share
By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:
- you are not in the United States or a “U.S. person”, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Person”), nor are you acting for the account or benefit of a U.S. Person;
- you will not make a copy of the documents on this website available to, or distribute a copy of such documents to, or for the account or benefit of, any U.S. Person or any person in any other place in which, or to any other person to whom, it would be unlawful to do so; and
- the state, territory or province and postcode provided by you below for your primary residence in Australia or New Zealand are true and accurate.
Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.
FOLKESTONE EDUCATION TRUST RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015
Folkestone Investment Management Limited as Responsible Entity of the Folkestone Education Trust (“FET” or the “Trust”) provides the results of the Trust for the half year ended 31 December 2015.
KEY HIGHLIGHTS FOR THE HALF YEAR
- Statutory profit of $59.5 million, an increase of 13.8% from $52.3 million in the previous corresponding period (“pcp”)
- Distributable income of $16.9 million, an increase of 29.0% on pcp
- Distribution of 6.7 cents per unit (“cpu”), an increase of 5.5% on pcp
- NTA per unit of $2.00, an increase of 9.9% from 30 June 2015
- Total Unitholders’ return for the half year to 31 December 2015 of 11.0%
- Development pipeline of 18 centres with a total value of $88.9 million. Three development sites commenced operations during the half year with a completion value of $12.9 million
- Four existing centres were acquired (1 settled) with a total value of $12.8 million
FINANCIAL SUMMARY
The tables below provide a summary of the Trust’s results in comparison to the previous corresponding period:
| INCOME SUMMARY | DEC 2015 | DEC 2014 | VAR. % |
| Total Operating Revenue ($m) | 30.5 | 24.4 | 25.0 |
| Total Operating Expenses ($m) | 13.6 | 11.3 | 20.4 |
| Distributable Income ($m) | 16.9 | 13.1 | 29.0 |
| EPU2 | 6.9 | 6.4 | 7.8 |
| Distribution (cpu) | 6.7 | 6.35 | 5.5 |
| Statutory Profit ($m) | 59.5 | 52.3 | 13.8 |
PORTFOLIO PERFORMANCE
Key portfolio performance criteria as at 31 December 2015:
| AS AT 31 DECEMBER | 2015 |
| Value of Investment Properties ($m) | 675.8 |
| Current Annual Income ($m) | 49.9 |
| Average Lease Income Increase (y-o-y) (%) | 2.6 |
| Property Yield - Freehold Properties (%) | 7.3 |
| Property Yield - Leasehold Properties (%) | 13.3 |
| Property Yeild - Total (%) | 7.6 |
| Occupancy Rate (%) | 99.5 |
| Weighted Average Lease Expiry (yrs) (by income) | 7.8 |
PROPERTY SUMMARY
| PROPERTY PORTFOLIO | NO. OF PROPERTIES | CARRYING VALUE ($m) | CURRENT ANNUAL INCOME |
| Australia - Early Learning | 333 | 570.8 | 44.8 |
| New Zealand - Early Learning | 51 | 59.8 | 4.4 |
| Total Early Learning | 384 | 630.6 | 49.2 |
| Medical Centre | 1 | 10.7 | 0.7 |
| Total Improved Properties | 385 | 641.3 | 49.9 |
| Development Sites (Settled) | 11 | 34.5 | 2.2 |
| Total Properties | 396 | 675.8 | 52.1 |
TRUST PERFORMANCE
FET paid distributions to investors of 6.7 cpu for the half year, in accordance with its annual FY16 forecast of 13.4 cpu.
FET provided a total return of 11.0 per cent for the half year to 31 December 2015, outperforming the S&P/ASX 300 A-REIT Accumulation Index (“Index”) return of 7.2 per cent for the same period. FET has also outperformed the Index over one year at 20.6 per cent per annum (v 14.4 per cent per annum), three years at 29.5 per cent per annum (v 15.9 per cent per annum) and five years at 31.7 per cent per annum (v 15.3 per cent per annum).
The Trust’s market capitalisation increased from $515 million at 30 June 2015 to $558 million at 31 December 2015.
Related News
.tmb-news.jpg?Culture=en&sfvrsn=410360ec_1 "ASX Announcement")
Charter Hall Group - Notice of 2023 Annual General Meeting of Securityholders and Explanatory Memorandum
Read more.tmb-news.jpg?Culture=en&sfvrsn=2e7e2809_1 "ASX Announcement")
Charter Hall Retail REIT - Notice of 2023 Annual General Meeting of Unitholders and Explanatory Memorandum
Read morec04cf533418b45a2a0142e5da4e32aff.tmb-news.jpg?Culture=en&sfvrsn=6ed9caa5_1 "ASX Announcement")
Charter Hall Long WALE REIT - Notice of Annual 2023 General Meeting and Explanatory Memorandum
Read moreTalk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
Talk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
-
© Charter Hall Group, 2024.
- Terms of Use
- Privacy Policy
- Complaints Guide
- Feedback
