APN Earnings at top end of Guidance
APN Property Group Limited advised this week that its Operating Earnings result for FY2019 is expected to be reported slightly above the top end of the 2.40 – 2.90 cents per share guidance range.
Operating Earnings is an unaudited performance metric used by the Group as the key measurement of it’s underlying performance. It adjusts statutory profit for certain non-operating items recorded in the income statement including discontinued operations, business development expenses and realised and unrealised fair value movements on the Group’s co-investments and investment properties.
APD’s Operating Earnings and final dividend determination for FY2019 remains subject to the completion of APD’s financial reporting process, independent audit and board approval. The Company’s FY2019 results are scheduled to be released to ASX on 22 August 2019