Aveo Group Announces Audited Group and Trust Group Earnings Results for the Year Ended June 30, 2018; Confirms Earnings Guidance for Fiscal Year 2019
For the year, the trust group reported revenue of AUD 26.0 million against AUD 17.2 million a year ago. Profit from continuing operations before income tax was AUD 16.8 million against AUD 10.1 million a year ago. Profit for the year was AUD 16.6 million against AUD 10.1 million a year ago. Basic and diluted earnings per stapled security were 2.9 cents against 1.8 cents a year ago. Basic and diluted earnings per stapled security from continuing operations were 2.9 cents against 1.8 cents a year ago. Net cash flows from operating activities was AUD 6.2 million against net cash flows used in operating activities of AUD 4.9 million a year ago. Payments for property, plant and equipment was AUD 35.9 million.
Based on current market conditions, the company confirms fiscal year 2019 EPS guidance of 20.4 cents and the company is targeting a full year distribution based on a payout range of 40% to 60% underlying profit.