Cromwell Still Faces Challenges Growing European Funds Management. FVE Increased to AUD 1.00
Cromwell Property Group reported first-half fiscal 2019 operating earnings of AUD 82.6 million, or AUD 4.10 cents per security, or cps, down 5% on the previous corresponding period, or pcp. Guidance for fiscal 2019 was maintained for earnings of at least AUD 8.0 cps and distributions of AUD 7.25 cps. We’ve slightly increased our medium-term earnings outlook to capture the expected earnings accretion from converting the legacy Tuggeranong office building on the fringe of Canberra to a 390-apartme...Cromwell Property Group has five operating segments: property investment, which owns investment properties located throughout Australia; property/internal funds management, which includes property and facility management, leasing and project management for the trust and all of Co.'s managed investment schemes; external funds management - retail, which at June 30 2016, included nine Co.-managed external retail funds with combined assets under management of A$1.70 billion; external funds management - wholesale, which had combined assets under management of A$5.60 billion as at June 30 2016; and property development.
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