Elanor Investors Group Forecasts Rising Profits

Elanor Investors Group (AU:ENN) has released an update.

Elanor Investors Group reports a 44% increase in recurring funds management income to $49 million for FY24, with a notable rise in EBITDA from $1.7 million to $12 million, despite lower transactional and co-investment earnings. The company is actively strengthening its balance sheet by releasing capital and reducing gearing, with significant real estate asset development and investment partnerships underway. A forecast distribution range of 2.3 to 2.7 cents per security has been announced for 2H24, reflecting a 90% payout ratio.

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