GPT Group H1 FFO Rises - Quick Facts

Shutterstock photo

(RTTNews.com) - GPT Group (GPT.AX, GPTGF.PK), an Australian property company that comprises General Property Trust and GPT Management Holdings, reported Monday that its first-half Funds from Operations or FFO was A$289.4 million, an increase of 3.4 percent from A$279.8 million a year ago.

FFO per security was 16.04 cents, up 3.2 percent from 15.54 cents a year ago. The result was driven by strong contributions from the investment portfolio of high quality Australian retail, office and logistics properties.

Adjusted FFO was A$232.9 million, compared to A$235 million a year ago.

GPT's statutory net profit after tax dropped 3 percent to A$728.5 million from A$751.2 million a year ago. The result reflected $456.7 million in property valuation increases offset by higher negative mark to market and net foreign exchange movement of financial instruments and impairments.

Revenue increased to A$378.4 million from A$356.3 million a year ago.

For the half year ended June 30, a distribution of 12.61 cents, up 2.5 percent, was declared on June 22 and is expected to be paid on August 31. The distribution represents a 97.7% payout ratio of AFFO.

Read the original article on RTTNews (http://www.rttnews.com/2925898/gpt-group-h1-ffo-rises-quick-facts.aspx) 

For comments and feedback: contact editorial@rttnews.com

This article appears in: Stocks , Politics

More from RTT News


See All RTT news

Research Brokers before you trade

Want to trade FX?