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Wentworth strategy grows

WENTWORTH Mutual Ltd’s expansion strategy is gaining momentum with the listed property manager acquiring the property management business of Australian Finance Group Ltd.The 300 properties acquired by Wentworth are primarily in Perth and will be serviced by its Subiaco office. The strategic alliance with AFG will initially be in Perth, Brisbane and Melbourne, with other states to follow. “Whilst the acquisition of the AFG portfolio will impact positively on our property management business, we see a number of other benefits that will become apparent to our clients as a result of the relationship Wentworth has formed with AFG,” Wentworth executive director Kingsley Lamont said.Wentworth is expected to seek to promote the services of AFG to its growing property management and management rights client base. AFG, in turn, is tipped to offer Wentworth’s property management services to its clients.At the end of last year, Wentworth paid $26 million for management rights company Amrites, which has lodged a prospectus with ASIC to raise $14 million from the public.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
309thAustralian Finance Group25%0%
432ndAusdrill2%20%
499thNavitas-5%-1%
625thMACA-24%6%
690thWellard-39%0%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

11/06/18
$0 Other
11/06/18
$0 Other
04/05/18
$41k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

8th-Navitas$967.8m
9th↑Ausdrill$783.5m
10th↑Australian Finance Group$573.4m
11th↑MACA$520.3m
13th↓Wellard$497.9m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Australian Finance Group

76thBrett McKeon$840k
551stMalcolm Watkins$225k
690thAnthony Gill$169k
Ranked by total remuneration from all listed WA companies

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