Aveo’s Reputation King Hit on All Four Corners; FVE Cut to AUD 3.10
Aveo Group’s reputation has taken a big hit after the ABC’s Four Corners program and print media showcased aggrieved residents alleging Aveo is more focused on profit than resident interests. The reputational damage will likely result in lower future demand for Aveo’s retirement village product, so we are cutting our forecast deferred management fee, or DMF, that Aveo generates on each resold unit by 6% in the medium to long term. We also reduce the volume of units developed annually in outer ye...Aveo Group is engaged in the development for resale of land and residential, retail, commercial and industrial property, the investment in, and management of, income producing retail, commercial and industrial Property, commercial, industrial and residential building and construction for the Group, and funds and asset management. As of June 30, 2016, Co. operated in two segments: Retirement, which develops and operates retirement villages and aged care facilities to produce rental and other income; and Non-retirement, which develops residential, commercial and retail property.
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