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IN BRIEF: Aspen 35pc geared

DIVERSIFIED property player Aspen Group Ltd says its conservative debt position has placed it in a ‘sound position’, despite the volatility and uncertainty prevailing in the listed property sector. In a group business update released to the Australian Securities Exchange last week, Aspen said its gearing position remained at conservative levels, with total debt facilities of $219 million representing a gearing position of 35 per cent. This was consistent with the group’s stated long-term gearing range of 30 per cent to 40 per cent. This facility is not due to expire until October 2011. Aspen managing director Angelo Del Borrello said the combination of quality property assets and active asset management had enabled it to benefit from the firm commercial property market in key locations across Australia. Independent revaluations were recently undertaken on three of its properties, resulting in the portfolio increasing $36.6 million to $377.8 million, in line with strong leasing activity and firm market conditions. Aspen’s total debt comprises core debt of $117 million, which is fully hedged against increases in interest rates for a further three years.

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Aspen Group (APZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
468thAspen Group-5%-5%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/10/15
$46k Issued
30/09/15
$260k Bought
30/09/15
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Aspen Group$22.1m
77 listed non wa companies ranked by revenue.
Source: Morningstar

Remuneration from Aspen Group

213thAdam Marrs Ekamper$488k
845thGuy Farrands$112k
892ndClive Appleton$98k
Ranked by total remuneration from all listed WA companies

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