AI assistant
CENTURIA CAPITAL GROUP — Earnings Release 2020
Mar 25, 2020
64677_rns_2020-03-25_105743ee-32dc-4b5f-9202-f3c728f1c1fd.pdf
Earnings Release
Open in viewerOpens in your device viewer
==> picture [596 x 112] intentionally omitted <==
----- Start of picture text -----
Centuria Capital Group (CNI)
----- End of picture text -----
Market and Earnings Update
Thursday, 26 March 2020
-
FY 20 Operating NPAT reforecast to 11.5 cps (previously 12.5 cps)
-
FY 20 distribution guidance stable at 9.7 cps
-
Withdrawal from proposed bid for Augusta Capital
-
Centuria Capital free cash position exceeds $135 million
Centuria Capital Limited (ASX: CNI or Centuria) provides the following update:
Earnings and Distribution
Centuria issues revised forecast operating earnings for FY20 of 11.5 cps and re-confirms its FY20 distribution guidance of 9.7 cps. This guidance is based on current Covid-19 knowledge and existing statutory regulations.
Proposed bid for Augusta Capital Limited
Centuria confirms that it has terminated the bid implementation agreement relating to a proposed bid for Augusta that was announced on 29 January 2020. Accordingly, Centuria is not proceeding with that bid at this time.
Centuria has a long-term view regarding the attractiveness of the New Zealand property funds management sector and it may seek to enter this market as conditions stabilise.
Balance sheet
Centuria has $135 million of free cash with operating gearing of 0.4%.
Centuria debt comprises two corporate bonds totaling $170 million, with the earliest repayment being $90 million in April 2021.
Joint Chief Executive John McBain said “Centuria enters FY21 strongly capitalised and with high recurring revenues. We are well prepared to weather what we anticipate will be challenging global financial markets, but our track record has proven we are also capable of taking advantage of these conditions to the benefit of our investors.”
– Ends –
For more information or to arrange an interview, please contact:
| John McBain | Jason Huljich |
|---|---|
| Joint CEO | Joint CEO |
| Centuria Capital Limited | Centuria Capital Limited |
| Phone: 02 8923 8923 | Phone: 02 8923 8923 |
| Email:[email protected] | Email:[email protected] |
| Tim Mitchell | Gigi Shaw |
| Group Head of Investor Relations | Associate Director |
| Centuria Capital Limited | BlueChip Communication |
| Phone: 02 8923 8923 | Phone: 02 9018 8633 |
| Email:[email protected] | Email:[email protected] |
Authorised for release by Anna Kovarik, Company Secretary.
Centuria Capital Group Consisting of: Centuria Capital Limited ABN 22 095 454 336 Centuria Capital Fund ARSN 613 856 358
Level 41, Chifley Tower 2 Chifley Square, Sydney NSW 2000
T: 02 8923 8923 E: [email protected] F: 02 9460 2960 www.centuria.com.au
==> picture [596 x 112] intentionally omitted <==
----- Start of picture text -----
Centuria Capital Group (CNI)
----- End of picture text -----
About Centuria Capital Group
Centuria Capital Group (CNI) is an ASX-listed specialist investment manager with $7.2 billion of assets under management. We offer a range of investment opportunities including listed and unlisted property funds as well as tax-effective investment bonds. Our drive, allied with our in-depth knowledge of these sectors and intimate understanding of our clients, allows us to transform opportunities into rewarding investments.
www.centuria.com.au
Centuria Capital Group Consisting of: Centuria Capital Limited ABN 22 095 454 336 Centuria Capital Fund ARSN 613 856 358
Level 41, Chifley Tower T: 02 8923 8923 E: [email protected] 2 Chifley Square, Sydney NSW 2000 F: 02 9460 2960 www.centuria.com.au