Abacus to post rise in full year profit

Abacus Property Group is expecting a full year reported profit of $58m-$61m and an underlying profit of $80m-$83m, a 4-8% increase from 2012. The final distribution of 8.25 cents per share brings the annual total for the 2013 financial year to 16.5 cents, placing the company on a 7.3% yield. While the yield is attractive, it also reflects the higher risk of Abacus’ business. Unlike ALE Property Group, for example, which has a 100% leased portfolio of 87 pubs on long, triple-net leases (tenant pays all property costs, including capital spending) backed by Woolworths, Abacus has a motley collection of...

Abacus Property Group is expecting a full year reported profit of $58m-$61m and an underlying profit of $80m-$83m, a 4-8% increase from 2012. The final distribution of 8.25 cents per share brings the annual total for the 2013 financial year to 16.5 cents, placing the company on a 7.3% yield.

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