Charter Hall Education Trust (“CQE” or the “Trust”) today announced its results for the year ended 30 June 2019.
Key Financial Highlights
- Distribution of 16.0 cents per Unit (“cpu”), an increase of 6.0 per cent on the previous corresponding period (“pcp”);
- Operating earnings of $44.2 million, an increase of 5.5 per cent on pcp;
- NTA per Unit of $2.96, an increase of 6.5 per cent from $2.78 per Unit at 30 June 2018;
- Statutory profit of $68.7 million, a decrease of 33.4 per cent from $103.1 million on pcp due to lower property revaluation increments in the year; and
- Successful completion of $120 million institutional placement and $19.3 million unit purchase plan at an issue price of $3.35 per unit.
- 6 developments were completed, with a completion value of $30.7 million and a yield on cost of 7.1 per cent;
- 7 existing assets were sold for a total of $9.2 million;
- Acquisition of 14 development sites and 5 existing childcare centres for a total completion value of $118.7 million;
- Acquisition of 50% interest the Brisbane City Council Bus Network Terminal at Eagle Farm, Brisbane, a new social infrastructure asset for $51.25 million; and
- CQE’s development pipeline is 31 sites, with an approximate completion value of $190.2 million.
View the Announcement