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Friday exclusive: Perron empire buoyed by bumper year

Western Australian tycoon Stan Perron's private investment empire has capitalised on the surging property and equities markets to record a bumper 2004-05 financial year net profit of almost $90 million, up 50 per cent for the period.
In Australian Securities and Investments Commission records obtained by WA Business News, Mr Perron's flagship investment company Perron Investments Pty Ltd appears to have sold down property investments to reduce debt by $160 million.
At the same time, asset revaluations and increasing equity holdings appeared to have helped boost net assets to $745 million - a jump of almost $150 million.
While Perron Investments managing director Ian Armstrong was not available to discuss the results today, earlier in the week he told WA Business News that the group was planning to focus on organic growth in the current period rather than looking to buy or sell further.
The group owns several shopping centres but also has office investments like its $150 million half share in Perth CBD property Central Park.

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