Cromwell is an Australian Property Trust listed on the Australian Stock Exchange. The Company's interest is held through its wholly-owned subsidiary Redefine Australian Investments Limited.
The highlights for the six months to 31 December 2013 are set out below:-
Cromwell delivers record first half operating profit:
- Statutory profit up 194% to $86.7 million
- Half-year profit from operations up 59% over 1H13 to a record $73.2 million
- Sale of 6 non-core assets for $253 million and purchase of Northpoint Tower
- Increase in external AUM to $1.2 billion, with funds management earnings up 285%
- Gearing reduced to 43%, with debt refinance well advanced
- Full year guidance of at least 8.4 cps earnings and 7.5 cps distributions maintained
