More bad news for Blue Sky – 2018-19 profit guidance withdrawn, partly thanks to villages

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As we covered here, its shares have dropped significantly since US-based Glaucus Group accused the private equity group of over-valuing its assets.

Blue Sky’s interim Managing Director Kim Morison flagged the news partly over uncertainty over two of its retirement village projects with Aura, led by Tim Russell and Mark Taylor.

One project is smaller than originally planned with the company now trying expand its size, while the other is now being 100% funded by Singapore’s SC Capital, Aura’s other major partner – leading Blue Sky to adjust the fees it will earn on the project.