Charter Hall profit lifts

Group tips flat operating earnings for current year, eyeing Australian acquisition.

Charter Hall Group (CHC) is tipping flat operating earnings for the current year as it eyes Australian acquisitions, after posting a jump in full-year net profit.  

Charter Hall recorded a net profit of $52.6 million for the year to June, from $9.7 million in the previous corresponding period, when it took a heavy loss on derivative investments.

The rise came despite the company taking a $37.7 million loss on offshore investment properties and its Home HQ Nunawading.  
Full-year operating earnings per share came in at 29.77 cents, in the middle of its forecast for between 29.5 and 30 cents.

Total income for the half lifted 16.3% to $192.7 million, from $165.7 million year-on-year. 

Operating earnings beat the company's guidance, rising 11.7% to $96.4 million. 

Charter Hall had tipped a rise in operating earnings of between five and nine per cent. 

The group will pay an final distribution of 13.5 cents, a slight rise on the 13.3 cents paid last year.

It brings the total dividend to 26.8 cents, up on last year's payment of 26.1 cents.

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