Abacus: Interim result 2014 and SPP

Abacus Property delivered a sound interim result, but the office market is starting to look shaky.

Abacus Property Group achieved steady growth in the six months to December, with earnings before interest, tax, depreciation and amortisation (EBITDA) increasing 10% over the previous corresponding period to $79m. Underlying net profit was 8% higher at $46m, while earnings per share of 9.83 cents was up only 3% due to a dilutive capital raising in November (more on that in a moment). The company will pay a distribution of 8.25 cents a share (unfranked, ex date already passed) for a current yield of 7.1%.



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