asx-wrap-feature
Image: Canva.
  • The ASX200 closed today at 6,989 points, up 44.1 points or 0.63%
  • For the month, the the ASX has moved 380.4 points or 5.75%
  • Reporting seasons continues

Welcome to a new, yet still very wintery, month. Reporting season continues, with updates from UUL, OPN, AKL, and GDF coming in today.

The broader market

The ASX200 closed today at 6,989.30 points, up 44.1 points or 0.63%.

asx chart
Source – Google

For the month, the the ASX has moved 380.4 points or 5.75%

Top-performing ASX listed real estate company shares: 1-08-2022

Company Code Price ($) Change (%)
Proptech Group PTG 0.28 5.66
Acumentis Group ACU 0.105 5.00
Elders Ltd ELD 11.81 4.70
Mcgrath Ltd MEA 0.455 4.60
Avjennings Ltd AVJ 0.49 3.16

Source: ASX. * Results are delayed.

The movement

Kicking off the day, Ultima United (ASX: UUL) reported net cash inflow for the quarter from its Cannington project of $24,096 and expenditure of $21,749 on its Bentley project.

The 3 Oak Street property in Cannington still has its master lease agreement in force and Ultima United said it provides the company with above-market rental yield. UUL said it is still considering the individual sale of apartments. The company is also currently negotiating a renewal or extension to the master lease and will provide updates on any progress in due course.

Ultimate United still owns the 19-21 Tate Street property in Bentley, and said in its latest update that “Upon further deliberations, the company terminated the sales agreement and took the Bentley Project off the market.

Finally, regarding UUL’s Hokkaido development, the company said settlement on plots eight and nine of the project has been postponed to 30 September 2022. UUL said it was to allow global supply and labour shortages to normalise.

Openn Negotiation (ASX: OPN) has announced its Australia New Zealand operations recorded 62% growth in uploads, year on year.

“As our entry into North American markets accelerates, I’m also pleased to advise YOY growth in uploads to the platform of 62% compared to FY21 from our AU/ NZ operations. These results demonstrate the growing scale and global shift toward an appetite for optimising the real estate sales process, underpinned by greater transparency which Openn is perfectly positioned to leverage,” said Peter Gibbons, Managing Director of Openn.

“While we’ve seen some easing of activity from the peak in residential real estate relative to the same time last year, the Company continues to progress well towards its 5% market share aspirations in Australia by FY24.

“This quarter also resulted in the completion of an oversubscribed $3 million dollar placement lead by Euroz Hartley, with a further $2 million on offer to existing shareholders via a Share Purchase Plan (SPP), closing Friday 29 July 2022. Funds raised from these activities will be used to fund expansion into North America where demand for Openn’s products has developed faster than anticipated.”

In Auckland Real Estate Trust’s update (ASX: AKL), the company said its cash position at 30 June 2022 was A$1.05 million. Cash receipts from tenants for the quarter were A$4.01 million with monthly rental collections averaging 98%. AKL said it continued to invest in office property with a strategy to add value with A$9.02 million in capitalised costs incurred during the quarter. The company also made payments of A$390,000 during the quarter.

GARDA (ASX: GDF) also released an update, the company highlights included revenue from operations for the year ended 30 June of $33.71 million.

Year ended 30 June 2022 2021 Change
$000 $000 %
Revenue from operations 33,709 30,481 10.6%
Funds from operations (FFO) 16,653 16,167 3.0%
Net profit after tax 140,519 35,689 293.7%
Total assets 694,997 518,847 34.0%
Net assets 428,140 301,970 41.8%
Net tangible assets (NTA) 428,140 301,970 41.8%
Issued securities  (000) 208,581 208,571 0.0%
NTA per security 2.05 1.45 41.4%

GARDA also noted in its sustainability report that for FY22, it has achieved an average of 4.9 NABERS energy rating as a direct result of efficiency initiatives for its operationally controlled assets. The company achieved a 4.7 for NABERS water rating.

That’s the latest in ASX-listed real estate companies.

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