In February 2015, 360 Capital Group upgraded its guidance on base operating earnings to 6.4 cents per share and 10.4 cents per share for 'operating earnings including active earnings'. This guidance included full recognition of underwriting and acquisition fees from the establishment and sell down of the Fund of approximately $3.0 million (1.2 cents per share). As a result of the delay in Target signing its lease, settlement of the properties will occur later than originally forecast.

Therefore, the Group will only recognise a small portion of these fees, with the balance likely to be recognised in fiscal year 2016. However, the Group has benefited from higher co-investment revenue, higher management fees as a result of increased funds under management and other cost savings which have offset the reduced fee recognition expected from the sell down of the Retail Fund in fiscal year 2015. As a result, the Group reaffirms fiscal year 2015 base operating earnings guidance of 6.4 cents per share and previous 'operating earnings including active earnings' guidance of approximately 10.4 cents per share.