ING Real Estate Community Living Group has recorded a net profit of $29.1 million for the first half year to 31 December 2011, compared to $10.3 million.
ILF CEO Simon Owen said the results are a further step forward in the transformation of ILF as an actively managed seniors living owner, operator and developer focused on the Australian market.
“We have improved our capital position substantially, with effective Australian gearing now below 40%, while net asset value per unit grew from $0.26 to $0.33. ILF is well placed to deliver long term sustainable growth to unitholders through accretive development and bolt-on acquisitions,” he added.
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