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CENTURIA CAPITAL GROUP — Earnings Release 2015
Feb 18, 2015
64677_rns_2015-02-18_53d48aba-882e-495d-bf1a-c2a3e04d504a.pdf
Earnings Release
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Australian Securities Exchange - Company Announcements Platform
Centuria Capital Limited
Centuria Capital Announces 2015 Half-year Results and Dividend Declaration
Sydney, 19 February 2015: Specialist investment manager Centuria Capital (ASX: CNI) today announced its results for the half-year ended 31 December 2014 and declared an interim fully franked dividend of 2.0 cps.
2015 Half-year Results
| 31-Dec-2014 | 31-Dec-2013 | Change | |
|---|---|---|---|
| Statutory net profit after tax | $7.6m | $5.0m | 52.1% |
| Statutory earnings per share (basic) | 9.8c | 6.5c | 50.8% |
| Underlying net profit after tax | $5.4m | $2.9m | 87.6% |
| Underlying earnings per share | 6.9c | 3.7c | 88.1% |
| Dividends per share (fully franked) | 2.0c | 1.25c | 60.0% |
| 31-Dec-2014 | 30-June-2014 | Change | |
| Net assets | $111m | $105m | 6.6% |
Group CEO John McBain commented:
“The results for the first-half of the 2015 financial year are the strongest first-half results the Group has delivered for many years. Equally pleasing is the fact that the Group has executed on its major strategic objectives, at the same time stream-lining our business model to two core operating divisions;
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Property Funds Management – Listed and Unlisted
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Investment Bond Management
The property funds management division achieved a major strategic objective during the firsthalf with the listing of the $143 million Centuria-managed, Centuria Metropolitan REIT (ASX: CMA) in December 2014. Under Nicholas Collishaw CMA has experienced strong investor support, with the share price increasing 16.0% from listing to close at $2.32 cents per share yesterday.”
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“A further objective achieved was the monetisation of two non-core assets during the half. The sale of subsidiary, Over Fifty Insurance Pty Ltd, and the sale of the variable rate reverse mortgage portfolio released $37 million to the Group pre fees, strengthening the Group’s balance sheet and providing capital to expand core divisions.”
“The unlisted property funds management division led by Jason Huljich recorded substantial sale and performance fees, including fees from the sale of 441 St Kilda Road, Melbourne and the sale of Citilink Business Centre in Brisbane. The division established the Centuria 2 Wentworth Street Fund during the half which was oversubscribed, closing early after a $27 million capital raising.”
“The Investment Bond division has also seen renewed interest in its growing range of Investment Bonds under the guidance of recently appointed General Manager Neil Rogan. Centuria Life launched two new white-labelled Centuria bonds during the half-year, the Implemented Portfolios Dynamic Asset Allocation Bond and the Mason Stevens Credit Bond. These bonds are both experiencing new inflows.”
“Centuria today released its half year results presentation which analyses corporate earnings in detail and sets out fresh strategic objectives for the Group. This document has been lodged on the ASX Company Announcements Platform and includes additional detail regarding the Group’s Asia strategy and recent development joint ventures with Centuria clients”
Capital Management
In addition to a pleasing increase in share price during this half (20%), Centuria aims to produce consistent ongoing shareholder returns as earnings grow.
Accordingly, the Company today announces that the Board has declared an interim dividend of 2.0 cents per share fully franked with a record date of 5 March 2015 which will be paid on 26 March 2015.
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For more information or to arrange an interview, please contact:
John McBain
Heather Romao
Group CEO Head of Communications Centuria Capital Limited Centuria Capital Limited Phone: 02 8923 8910 Phone: 02 8923 8914 Email: [email protected] Email: [email protected]
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Kate Bailey
Consultant BlueChip Communication Phone: 02 9018 8606 / 0421 986 328 Email: [email protected]
About Us
Centuria Capital “CNI” is an ASX-listed specialist investment manager with $1.6 billion in funds under management. We offer a diverse range of investment opportunities – from taxeffective investment bonds to unlisted property funds. Our drive, allied with our inside knowledge of the sector and intimate understanding of our clients, allows us to transform opportunities into rewarding investments.