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Cromwell to ARA: keep your own house in order

Nick Lenaghan
Nick LenaghanProperty editor

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Key Points

  • Revenue ($m) 494.7, up 8.2%
  • Pre-tax profit ($m) 184.9, up9.9%
  • Net profit ($m) 181.1, up13.3%
  • Final distribution (c) 1.9, up3.4%, payable on Aug 21

Cromwell Property Group chief executive Paul Weightman has issued a full-throated slap down of the fund manager's largest investor, Singapore's ARA Asset Management, telling it to stop its criticism and "keep its own house in order".

Mr Weightman's remarks came as Cromwell booked a 27 per cent lift in its operating profit to $221.2 million for fiscal 2020, beating its original earnings per share guidance for the year. Statutory profit rose 13.3 per cent to $181.1 million.

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    Original URL: https://www.afr.com/property/commercial/cromwell-to-ara-keep-your-own-house-in-order-20200827-p55pse