Charter Hall shares slide as company flags ongoing headwinds
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The news: Shares in Charter Hall Group lowered on the ASX as the property and funds management company warned of ongoing headwinds, while reaffirming its full-year guidance.
The numbers: Charter Hall shares were down 1.4% to $15.47 by 2:35pm AEDT, having added nearly 50% over the last 12 months.
Speaking at today's annual general meeting, Charter Hall's chief executive David Harrison reiterated the company's full-year operating earnings-per-security guidance of 79 cents, after "no material adverse change in current market conditions".
Harrison also told shareholders that FY25 distribution-per-security guidance remains at 6% annual growth compared to FY24, as set out in August.
The context: Outgoing chair David Clarke noted that FY25 "will not be without its challenges" and said the company continues to manage headwinds.
Charter Hall will continue to carefully manage its cost base and strategically invest and deploy capital as it progresses through FY25, he said, looking for growth opportunities "as they present themselves".
The source: ASX announcement
