- Revenue and operating profit up 8% and 45% respectively
- 3 years of growth with materially increasing EPS and DPS
- Platform performed well, a strong desire for affordable property during COVID boosted results
“Value for money” is the mantra of Aspen Group, which released its half-yearly results to the ASX today.
The company’s portfolio consists of “value for money accommodation”, with properties across Australia, including caravan parks, holiday parks and other lifestyle villages.
Highlighting the demand in the affordable sector, but also a resurgent local demand for caravan and holiday parks given restrictions on travel, Aspen has achieved healthy increases in revenue and profit, revenue up 8% to $17.77M, operating profits up 45% to $5.29M.
Other parts of the business were also cause for celebration, development and trading profit went up by 135%, net corporates down by 15% too.
The company business model has served Aspen well during the tough COVID period, across the residential, retirement and short stay sectors.
Aspen said in a statement to the ASX: “Our business is all about providing our customers a better lifestyle at a more affordable price, which has become even more desirable in the COVID-19 era. It is diversified in terms of customers, product type, geography and regulatory regime, and we have a very measured exposure to development, which has protected us in this volatile environment.”
It was also reported that the business has seen a major shift in consumer demand to “lifestyle” locations, with significant demand for their core product: lower cost housing.
Other figures across the board all saw increases, EBITDA was up 37% to 5.96M, the only figure that saw a decline, rental and ancillary services revenue which dropped by 2% to $14.88M.
The company is currently listed for $1.17 per share on the ASX.