Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Folkestone to tread carefully on future investments, despite tripling profits

People & Companies / Latest News

Australia / Sydney

Mar 02 2018

Add to Favorites

Share this Article:

Developer and real estate funds management, Folkestone, will be disciplined in its search for new opportunities, amid warnings of price spikes in some sectors.

The announcement by the group comes despite tripling its first-half profit, earning $3.3 million in acquisition fees from three funds, which were established to purchase an office building at Sydney Olympic Park and the Mercure Sydney International Airport Hotel, along with the development of a new hotel to be built in Alexandria.

Folkestone’s net profit rose from $3.2 million to $9.9 million in six months, while revenue increased by $21.8 million during the same period.

The group’s managing director Greg Paramour told the Australian while Folkestone would be patient, it would continue to look for investment opportunities. 



You may also like...

Load More


Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.