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ARA Asset Management manages 25% rise in Q4 net profit to $22 million

Published on Feb 20, 2014 8:32 PM
 

ARA Asset Management, which manages real estate investment trusts and private real estate funds, has posted a 25 per cent rise in fourth quarter net profit to $22.1 million.

Revenue for the three months to Dec 31 was up 19 per cent at $43.8 million.

For the full year, net earnings inched up by 2 per cent to $74.3 million on the back of a 5 per cent rise in revenue to $140.4 million.

Recurrent management fees went up by 11 per cent to $114 million, driven mainly by higher reit management fees and real estate management fees.

 
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