As reported by Bronwyn Allen of Motley Fool 26/08 @ 4:06pmThe...

As reported by Bronwyn Allen of Motley Fool 26/08 @ 4:06pm

The 360 Capital Group Ltd share price (TGP) is soaring +10.12% today to 93 cents. This is also on the back offull-year FY22 resultsreleased today.

The company reported operating revenue of $53.9 million, up +157% pcp. Its operating profit was $30.9 million, up +240% pcp.

Operating earnings per share (EPS) came in at 14.1 cents per share, up +236% pcp.

The group also announced a fully franked special dividend of 8 cents payable on 7 October. Shareholders will receive this on top of the 6 cents per share in total ordinary dividends paid this year.

The company says its principal investing continues to drive profits. It has also simplified the business to focus on its core strengths of real estate investing & funds management.

Part of that simplification process was selling its 19.9% stake in Irongate Group toCharter Hall Group(ASC: CHC). It also bought certain assets as part of the transaction.

This improved the balance sheet. After settlement on 15 July, the company had more than $160 million in cash, no bank debt, and $49.4 million in liquid assets.

This provides “the opportunity to capitalise on market volatility and dislocation given the Group’s 16-year track record of real estate investing”.