ASPEN Group has announced a $7.45 million profit, up 84 per cent from last year. Aspen’s portfolio increased from $99 million to $203 million during the 2005 financial year.Managing director Angelo Del Borrello said 2005 had been a successful and rewarding year for the group.“The sound profit result and growth in assets under management substantially strengthen the group’s financial position,” Mr Del Borrello said.He attributed the improved performance to an increase in rental income resulting from growth of the property portfolio, funds management revenue of $3.98 million, and cost savings from lower margins on group borrowings following a refinancing.“We will continue to pursue property acquisitions for both the Aspen Group portfolio and the unlisted funds under management, in addition to identifying further finds management opportunities such as the recently announced Aspen Living Villages concept,” Mr Del Borrello said.
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13/09/2005 - 22:00
$7.45m profit for Aspen Group
13/09/2005 - 22:00
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