Charter Hall's Planned Purchase of Folkestone Overshadows FY18 Result. FVE Increased to AUD 5.80
Growth in narrow-moat-rated Charter Hall Group's fiscal 2018 operating earnings of 5% to AUD 37.7 cents per security, or cps, was in line with guidance and expectations. Charter Hall used the result to announce its proposed AUD 205 million acquisition of listed competitor Folkestone. The acquisition will be funded from existing cash and unused debt facilities. On the assumption the proposal will receive the necessary shareholder support, Charter Hall has guided for fiscal 2019 post-tax earnings ...Charter Hall Group is engaged in the investment in property funds, and property funds management. Co. has the following two reportable segments: Property Investments, which comprises investments in property funds; as well as Property Direct Investments, which comprises direct interests in investment properties; and Property Funds Management, which comprises funds management services, property management services and other property services.
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