- FBU announced Phillip Boylen will be appointed chief executive of Fletcher Construction Company
- EGH announced the settlement of acquisitions for a further three villages in South-East Queensland
- DHG successfully completed its retail offer
It’s a busy Monday, with a variety of announcements made. Peet is expecting some 80% more profit come the end of FY22, and Proptech Group continuing to experience exceptional levels of growth.
Settlements of various acquisitions or disposals were also announced today, Domain also completed its retail offer, originally announced 1 April this year.
The broader market
The ASX200 closed today at 7,347 points, down 88 points or 1.18%. The market sharply dropped early in trading, with little recovery throughout the day. Losses were led by biotechnology company Imugene Limited (ASX: IMU) at -12.5%, also in the top five declines for the day, Goodman Group, down 7.215%.
In the top five gains are Qantas and Flight Centre, with Cromwell Property (ASX: CMW) also in the top five.
The morning opened with news from Fletcher Building (ASX: FBU). Phillip Boylen will be appointed chief executive of Fletcher Construction Company Limited.
Raptis Group’s (ASX: RPG) Appendix 4C came next, the company’s receipts from customers $7,779, and net cash used in operating activities at $740,331.
Net cash used in investing activities came to $2,029,161, with cash and cash equivalents at end of the period $131,833.
Ultima United’s (ASX: UUL) quarterly report, with the company still considering the prospects of individual sale of the apartments at its Cannington Project. The company’s Bentley project saw an informal offer which was later retracted.
UUL said that it “continues its two-pronged approach of progressing the development of the special disability housing under the National Disability Insurance Scheme and marketing the properties for sale.” UUL is yet to hear back from the City of Canning regarding development approvals.
Regarding UUL’s Hokkaido development, settlements on plots eight and nine have been postponed. Settlement for Parker Street has not proceeded.
UUL’s net cash used in operating activities was $35,000, and cash and cash equivalents at end of period is $15,812.
Dexus (ASX: DXS) announced the settlement of its 50% interest in 309-321 Kent Street property in Sydney. The office building was sold for $401 million.
Centuria Office Fund (ASX: COF) also released its quarterly update. COF Pro-forma gearing as at 31 March 2022 is 33.2%.
Throughout FY22 (YTD), terms were agreed or leases completed for circa 22,970 square metres across 30 separate deals, comprising 6,820 square metres of new leases and 16,150 square metres of renewals.
COF achieved a NABERS Sustainable Portfolio Index energy rating of 4.8 stars and NABERs water rating of 3.7 stars.
Proptech Group (ASX: PTG) cash receipts came in at $5.3 million, up 70% on the previous corresponding period. YTD, total cash receipts are $16.1 million, up 94% on the previous corresponding period.
The quarter also saw positive net cash flows from operations for PTG, $400,000, and YTD net cash flow from operations of $2 million. The company has a cash balance of $14.6 million as at 31 March 2022.
In Elanor Commercial Property Fund’s (ASX: ECF) quarterly report, FFO was reported as $7.68 million or 2.73 cents per security. A distribution of 2.35 cents per security was paid, and ECF recently entered into an agreement to acquire 49.9% in the Harris Street Fund. NTA per security post-acquisition was maintained at $1.19.
Eureka (ASX: EGH) announced the settlement of management and letting rights acquisitions for a further three villages in South-East Queensland. These villages were operated by Oxford Crest. They add 188 units to Eureka’s portfolio and are located in Deagon, Raceview, and Gympie.
In total, the acquisition of the Oxford Crest portfolio comprises six villages and 333 units.
Peet (ASX: PPC) announced that the company expects an operating profit after tax for FY22 to be in the range of $48 million to $52 million.
The expected earnings range represents a circa 70% to 80% increase on the FY;21 operating profit after tax of $28.5 million.
“The strategic rebalancing of the Group’s portfolio to increase its exposure to the east coast market is delivering strong results,” said Peet Managing Director and CEO, Brendan Gore.
Domain (ASX: DHG) announced the successful completion of the retail component of its fully underwritten $180 million, 1 for 12.33 accelerated non-renounceable pro-rata entitlement offer of new fully paid ordinary shares in Domain announced on Friday 1 April 2022.
That’s the latest in A-REIT, with a dash of tech and construction too.