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APN PROPERTY GROUP LIMITED (APD)

APN PROPERTY GROUP LIMITED (APD)

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General Information
Company Name: APN Property Group Limited
Stock Code: APD
Website: www.apnpg.com.au
GICS Sub-Industry: Asset Management & Custody Banks
Market Cap ($M): 26
Equiv. Shares (M): 162

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.160 $ 0.160 $ 0.160 $ 0.160 $ 0.160 20,000 0%

Company Overview

Business Description:
APN Property Group Limited (APD) is an Australian real estate investment manager. Collectively the Group manages $2.25 billion (as at 30 June 2011) of real estate and real estate securities on behalf of corporations, superannuation funds, high net worth and individual investors in 18 funds. Established in 1996, the company has offices located in Melbourne, Singapore and London.

Strategy Analysis:
Through its wholly owned subsidiary, APN Funds Management Limited, APN offers a suite of actively managed retail funds on behalf of more than 13,000 direct clients for nearly 400 independent adviser dealer groups and over 100,000 clients indirectly through investment platforms. APN also manages several private real estate funds which offer opportunities for institutional investors seeking higher returns from development activities and traditional real estate private equity investments. In 2010, APN established a long-term strategic partnership with Asian real estate investment manager, ARA Asset Management Limited, as part of APN’s strategy to expand into Asia.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 10.3 7.2 -- 2.9 1.3 5.9 100.0
2010  A -5.2 -4.5 -157.0 0.0 1.3 4.4 100.0
2009  A 9.6 7.9 -30.1 3.7 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
APN Property (APD) $26 M -- -- -- 2.2099 -- -- 0.0781 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
APD 0.87 2.21 0.81 --
Market 1.12 11.1 0.96 2.31
Sector 0.94 12.3 0.82 3.30

Directors
Name Position Start Date
Mr Moses Song Alternate Director 02 May 2011
Mr Christopher John Aylward Executive Chairman 01 July 2004
Mr Clive Robert Appleton Executive Director 01 July 2004
Mr Howard Brenchley Executive Director 01 July 2004
Mr David Paul Blight Managing Director 24 November 2008
Mr John Lim Non-Executive Director 02 May 2011

Management
Name Position
Stephen Finch Chief Executive Officer, Asia
Paul Anderson Chief Executive Officer, European Funds
Michael Doble Chief Executive Officer, Real Estate Securities
Timothy Slattery Chief Operating Officer
John Freemantle Company Secretary
Peter Michael Nicholson Company Secretary

Substantial Shareholders
Holding Name
22,542,623 (13.88%) ARA Asset Management Limited
47,318,688 (29.13%) Holus Nominees Pty Limited
10,743,861 (6.61%) David Paul Blight
18,000,002 (11.08%) Melboune Light Pty Limited

Calendar of Events
Date Event
25 February 2013 Report (Interim)
28 September 2012 Report (Annual)
27 August 2012 Report (Prelim)
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