Parents, do you love and value your kids? Well you're not alone, corporate Australia does too.
The country's largest ASX-listed childcare centre owner, Folkestone Education Trust, has been busy proving toddlers in their childcare centres have good monetary value as well as being, uhm, cute!
More National News Videos
- Video duration
- 01:39
Turnbull savings plan in tatters
Turnbull savings plan in tatters
The Labor party and crossbenchers are banding together to thwart the government's plan to increase childcare funding that means cuts to other welfare payments.
Up Next
How to love forever
- Video duration
- 03:51
- Video duration
- 03:51
How to love forever
How to love forever
Couples who've been married for half a century reveal their secrets to a long and happy relationship, and their partner's most annoying habits.
Up Next
Paralympian's emotional criticism
- Video duration
- 03:03
- Video duration
- 03:03
Paralympian's emotional criticism
Paralympian's emotional criticism
The NDIS is not welfare and should not be considered a burden by the government, gold medallist Kurt Fearnley says, after yesterday's announcement its funding is contingent on savings from welfare cuts. Courtesy ABC News 24.
Up Next
City vs country in council merge decision
- Video duration
- 00:53
- Video duration
- 00:53
City vs country in council merge decision
City vs country in council merge decision
The NSW government will abandon any further mergers in regional areas, but will go ahead with the ant announced metropolitan mergers that are not currently being contested in court.
Up Next
Closing the gap too slow
- Video duration
- 02:22
- Video duration
- 02:22
Closing the gap too slow
Closing the gap too slow
Indigenous leaders are concerned about slow pace of change when it comes to closing the gap between Indigenous and non Indigenous people. Courtesy ABC News 24.
Up Next
Former Honey Birdette workers protest
- Video duration
- 01:02
- Video duration
- 01:02
Former Honey Birdette workers protest
Former Honey Birdette workers protest
Supporters and ex-employees gather at Honey Birdette's headquarters in Sydney's Surry Hills on Tuesday as part of a campaign to improve the company's workplace safety.
Up Next
How to spot a great school teacher
- Video duration
- 02:02
- Video duration
- 02:02
How to spot a great school teacher
How to spot a great school teacher
Everyone has met one, but what does it really take to provide the perfect learning environment? We asked an expert.
Turnbull savings plan in tatters
The Labor party and crossbenchers are banding together to thwart the government's plan to increase childcare funding that means cuts to other welfare payments.
It reported Tuesday a 16 per cent rise in profits over six months to December last year, declaring a statutory profit of $69.1 million up from $59.5 million the corresponding previous period.
The childcare centre landlord has also been busy proving that the nightmare days of the collapse of ABC Learning under founder Eddy Groves are well behind the sector.
With a total of 402 properties in trust, it is just one quarter the size of its earlier, failed, counterpart while producing similar profits, highlighting the sector's maturity.
The fund reported it had increased its development pipeline of childcare centres to 22 with a total value of $121.8 million.
"One development property was completed and commenced operations during the half year with a completion value of $9.3 million," it said.
The group's entire portfolio was valued at more than $792 million.
Over the six month period, Folkstone settled on two existing centres in NSW and Queensland and on six development sites.
It sold one property for $1.9 million on a yield of 7.8 per cent.
Market rent reviews continue to proved an extra boost to Folkstone's annual rent growth, Shaw and Partners said in a note to clients.
Rent reviews and renewals gave the group a 4.9 per cent uplift and extended the portfolio's WALE (weighted average lease expiry) to 8.5 years.
Shaw and Partners said it was a "clean result with no obvious surprises."
"While acquisitions also remain a potential growth driver, the market remains competitive, with 'cheap' opportunities harder to find - (thankfully) management remain disciplined in their approach," analysts said.
Gearing was up slightly to 27.4 per cent from 26.6 per cent midway through 2016 but still below management's target 30-40 per cent range.
Folkstone will return a 7.1 cent distribution per unit to investors, an increase of 6 per cent and a result in line with the annual financial year forecast of 14.2 cents per unit.