Centuria Capital Group has reported an operating profit after tax of $114.5 million for the 2022 financial year, up from $70.2 billion in the previous year.
In its full-year financial results released on Wednesday, the firm stated that its total operating revenue had increased by 38 per cent to $292.6 million.
Management fee revenue surged 77 per cent to $146.8 million and transaction fee revenue soared 162 per cent to $39.3 million while $33 million in performance fees were recorded.
The firm said it had delivered on its upgraded operating earnings per security guidance of 14.5¢ per security, 20.8 per cent above the previous financial year, and declared a distribution of $0.11 per security.
“The group delivered record-operating earnings and distributions throughout the period, following upgraded guidance during the year,” commented Centuria joint CEO John McBain.
“Centuria demonstrated how its corporate acquisitions in previous periods have significantly increased the size of the platform with correspondingly high increases in both management fee revenues and transaction fee revenues as is evident in the FY22 result.”
Over the period, the firm grew its real estate funds management platform by 20 per cent to $19.8 billion, with unlisted assets under management (AUM) lifting 18 per cent to $13.0 billion and listed AUM rising 24 per cent to $6.8 billion.
About $3.1 billion of gross real estate activity was recorded, a record for the specialist investment manager, with $2.6 billion in real estate acquisition and $500 million of real estate lending.
“This growth is attributed to our diversification by geography, asset class, fund types and capital sources, which continue to generate new opportunities for sustainable and long-term expansion,” said Centuria joint CEO Jason Huljich.
“Centuria’s development pipeline also significantly contributed to recurring revenues while providing high-quality assets for our listed and unlisted funds in Australia and New Zealand.”
The group’s total AUM, which also includes $800 million in investment bonds, sat at $20.6 billion as of 30 June, an increase of 18 per cent compared to a year earlier.
”Centuria remains firmly focused on the Australasian real estate sector. The group intends to grow its platform strongly in the alternative healthcare, agriculture and non-bank lending sectors which are receiving strong investor demand,” said Mr McBain and Mr Huljich.
“In addition, we will continue to leverage our strong distribution network and our institutional relationships to take advantage of both core and value-add real estate opportunities across our traditional asset classes.”
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.