Abacus Property Group Announces Rise In Distribution Per Unit Desptite Lower Profit
February 18, 2020 — During the six months to 31 December 2019, Abacus acquired (or contracted to acquire) over $600 million of business transforming investments. Abacus has increased exposure to its key focus sectors of Office and Self Storage through a series of acquisitions and joint ventures, aligned with the value-accretive, identified opportunities outlined at the institutional placement in July 2019.
The group reported that its group statutory profit hit A$82.1 un HY2020, down A36% from $127.8 million in in HY2019.
Abacus’ Managing Director, Steven Sewell, commented “Our strategy is simple and focused, to position Abacus as a strong asset backed, annuity style investment house, concentrating on the ownership and management of Office and Self Storage assets. :