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BLACKWALL LIMITED — Earnings Release 2023
Feb 20, 2023
64590_rns_2023-02-20_79f64b65-f805-4644-b65f-8d66def58c40.pdf
Earnings Release
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21 February 2023
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ASX Release
BlackWall Limited Half Year Re ort – Dec 2022 p
BlackWall Limited (BWF or the Group) is pleased to announce a 48% increase in statutory profit after tax for the half year and will pay a 2.5cps fully franked interim dividend. “Our largest fund, WOTSO Property has continued to grow, helping drive a 30% increase in BWF’s management fees and bringing our total assets under management to $510 million. Our efforts in the WOTSO flexspace business are paying off as we have now begun to realise the uplift in management fee from 2% to 5% for all WOTSO flexspace revenue above $20million,” said Joint Managing Director, Tim Brown.
Key achievements for the Group during the period include facilitating the acquisition of WOTSO Property’s first New Zealand asset and managing the expansion of the WOTSO flexspace offering into new sectors, with the introduction of WOTSO HealthSpace, WOTSO CookSpace, and WOTSO Express. Joint Managing Director, Jessie Glew, said, “We have had a busy six months managing the purchase in New Zealand, developing new flex products and launching our new unlisted Pyrmont Bridge Road Mortgage Fund. We have also continued to drive occupancy rates at both owned and leased properties and we are looking to capitalise on opportunities that may come from the current economic uncertainty.”
| BWF Key Numbers | BWF Key Numbers | |
|---|---|---|
| Half year | Dec 2022 | PriorPeriod |
| Revenue | $3.5m | $3.0m |
| Funds from activities | $1.7m | $1.5m |
| Profit before tax | $2.5m | $1.6m |
| Interim dividend | 2.5cps | 2.6cps |
| Payable | 21 Mar 23 |
For further information please contact:
Jessie Glew (Joint Managing Director & COO) on 0438 691 538 or [email protected] Tim Brown (Joint Managing Director & CFO) on 0416 925 376 or [email protected]
Authorised for lodgement by Alex Whitelum, Company Secretary
BLACKWALL LIMITED (ASX:BWF) ABN 37 146 935 131 50 Yeo Street, Neutral Bay, NSW 2089 Australia | PO Box 612, Neutral Bay, NSW 2089 Australia Tel +61 2 9033 8611 | [email protected] | www.blackwall.com.au