Upgraded Earnings Guidance

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Charter Hall Group (ASX:CHC) today announces upgraded earnings guidance for FY21. The Group’s previous FY21 guidance was for post-tax operating earnings per security of no less than 55 cents per security and distribution per security growth of 6% over FY20.

Based on no material change in current market conditions and assuming the COVID-19 operating environment does not deteriorate markedly, FY21 guidance is upgraded to post-tax operating earnings per security of no less than 57 cents per security. This does not include any accrual for performance fees from future periods that may subsequently be realised.

FY21 distribution per security guidance is unchanged at 6% growth over FY20.

Charter Hall’s Managing Director and Group CEO, David Harrison said

“Our Direct business has continued to enjoy strong inflows reflecting the quality of these portfolios and the attractive returns they offer. This has resulted in capital deployment that exceeded our previous expectations.

“As we look towards FY22, we have significant investment capacity across the platform, a strong pipeline of deployment opportunities both off-market and from our development book, as well as uncrystallised performance fees embedded in many of our funds.”

Announcement Authorised by the Board

Click here to view the ASX Announcement