FET shrugs off volatility as it builds childcare centre pipeline
The securities of Australia's biggest listed childcare centre owner, Folkestone Education Trust, rebounded on Tuesday after the trust reported a strong set of full-year results backed by an $89 million development pipeline and revealed that it had acquired a 4.5 per cent stake in rival childcare landlord Arena REIT.
FET securities were up around 2.4 per cent to $2.11 in late trading, reversing some of the previous day's slide when they fell almost 7 per cent on the back of the plunge in global equities markets.
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