Aspen announces $95m in writedowns for FY2012
Aspen Group managing director Gavin Hawkins.
Property developer and fund manager Aspen Group has revealed around $95 million in writedowns in its upcoming full-year results, but has reassured investors that its operating profit will only take a small hit as a result.
Aspen released today results of its end-of-year portfolio valuation, which resulted in likely impairments to the carrying value of loans to development syndicates of $82 million, and a further $33 million in writedowns related to equity interests in those syndicates.
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Aspen Group (APZ)
Total Shareholder Return as at 30/06/2012
| 1 year TSR | 5 year TSR | ||
|---|---|---|---|
| 144th | Aspen Group | -4% | -23% |
| 225th | Empired | -21% | 0% |
| 451st | Homeloans | -3% | 16% |
| 553rd | Merchant House International | -22% | -2% |
| 580th | ThinkSmart | -70% | -34% |
680 WA listed companies ranked by 1 year TSR relative to WA companies with similar revenue
Shareholding
| Frank Zipfinger | 211,012 |
Number of shares
Revenue
| 54th |  | Merchant House International | $74.6m |
| 55th |  | Homeloans | $64.7m |
| 56th | | Aspen Group | $62.5m |
| 57th |  | Empired | $44.7m |
| 58th | | ThinkSmart | $39.7m |
166 WA listed industrial companies ranked by revenue
Remuneration from Aspen Group
| 1966th | Frank Zipfinger | $34k |
| 2140th | Hugh Martin | $16k |
| 2141st | Clive Appleton | $16k |
Ranked by total remuneration from all listed WA companies
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