360 Capital Group

FUND performance

 

Key achievements for the year to 30 June 2016 (FY16)

 

  • 95% of operating revenue from recurring sources (management fees and co-investment income)
  • Repaid all bank debt at Group level with $47.0 million in proceeds from direct asset disposal
  • 15.0% total return on $224.4 million of co-investments driven by redeployment of $15.5 million into 360 Capital Industrial Fund (TIX), $1.6 million into 360 Capital Havelock House Property Trust, $3.9 million into 360 Capital Total Return Fund (TOT)
  • Increased FUM by 22.6% to $1.48 billion following TIX’s acquisition of the $331.3 million Australian Industrial AREIT (ANI)
  • Generated efficiencies from reduced operating costs following business simplification
  • Deployed excess cash to buyback 9.1 million (3.7%) of TGP securities
  • Lengthened terms on unlisted trusts & agreed terms to sell Subiaco Square Shopping Centre (Group owns 39.8% of 360 Capital Subiaco Square Shopping Centre Property Trust)
  • Progressed discussions on potential JV/partnering opportunities with institutions and overseas capital partners

 

FY16 financial results overview

 

  • Statutory net profit of $24.1 million in line with the previous year
  • Operating profit of $16.0 million up 9.1% on $14.6 million pcp
  • Statutory Earnings per Security (EPS) of 10.6cps in line with 2015
  • Operating EPS of 7.0cps up 9.4% on 6.4cps pcp
  • Distributions per Security (DPS) of 6.25cps up 8.7% on 5.75cps pcp
  • Net asset value (NAV) per Security of 74.8cps up 5.9% on 70.6cps pcp