Sydney-based fund manager Folkestone, led by industry veteran Greg Paramor, expects to almost double its normalised net profit this year as it expands its funds platform and develops its projects.
The fund manager has tipped a 2017 statutory net profit of $13.1 million to $13.5 million. Its normalised net profit after tax is expected to fall between $9 million and $9.4 million.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
