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Cromwell Property Group H1 Operating Earnings Up 13%

Redefine International Plc. (RDI: Quote) announced that its associate company, the Cromwell Property Group, has released its half year results for the period ended 31 December 2011. Cromwell is an Australian Property Trust listed on the Australian Stock Exchange, in which the Company currently has a 23.2% interest held through its wholly-owned subsidiary Redefine Australian Investments Limited.

Operating earnings were $37.0 million up 13% from last year.

Earnings from property investments of $37.5 million, up 15% from the prior year period.

For year ending 30 June 2012, the company maintained operating earnings guidance of 7.3 cps and distributions guidance of 7.0 cps.

by RTT Staff Writer

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