Plus   Neg

GPT Group H1 FFO Rises - Quick Facts

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Nestle Prepared Foods, part of Swiss food and beverage giant Nestle SA, has recalled around 762,615 pounds of not-ready-to-eat or NRTE pepperoni hot pockets as it might be contaminated with extraneous materials including glass and hard plastic, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. Lake Champlain Chocolates or LCC has recalled select LCC milk chocolate products citing the possible presence of foreign objects, mainly brittle plastic pieces, according to the U.S. Food and Drug Administration. The affected products include Hazelnut Five Star Bar; Fruit & Nut Five Star Bar; Almond Five Star Bar; Granola Five Star Bar... A public health alert has been issued for ready-to-eat or RTE beef jerky products by the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The warning is given due to misbranding and the presence of undeclared anchovies, a known allergen. A recall was not requested because the products are not currently available for sale to consumers.
Follow RTT