AOG - AVEO Group

[greggles]

Aveo Group up over 11% today after releasing its 2017 financial year results. After reaching a low of $2.38 earlier this month from highs of $3.51 a year ago, it looks like things could be turning around for AOG.

Key financial highlights for FY17 include:

• statutory profit after tax of $252.8 million, up 118%;
• underlying profit after tax and non-controlling interest up 22% to $108.4 million;
• earnings per stapled security (EPS) on underlying profit after tax and non-controlling interest up 11% to 18.9 cents, despite the impact of the additional equity raised to fund the RVG and Freedom acquisitions;
• funds from operations (FFO) of $163.9 million ($141.3 million in FY16), largely driven by lower capitalised interest included in cost of goods sold and higher income tax expense; and
• net tangible assets per stapled security of $3.37, up 12% from 30 June 2016.

 

[System]

On December 2nd, 2019, Aveo Group (AOG) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between AOG and its shareholders in connection with the acquisition of all the issued capital in AOG by Hydra RL BidCo Pty Ltd, an entity controlled by Brookfield Asset Management Inc. on behalf of its managed funds.