Plus   Neg

GPT Group Reports Total Centre Comparable MAT Growth Of 3.4%

GPT Group (GPT.AX,GPTGF.PK), in its operational update for the September 2018 quarter, total Centre comparable MAT growth of 3.4 per cent, compared to 2.3 per cent growth at 30 June 2018. Combined Retail Specialty comparable MAT growth of 5.4 per cent compared to 4.4 per cent growth at 30 June 2018.

GPT Group, an Australian property company that comprises General Property Trust and GPT Management Holdings, said total Office leases of 36,017 sqm signed during the quarter, and occupancy of 97.5 per cent, compared to 96.6 per cent at 30 June 2018.

GPT Wholesale Office Fund (GWOF) priced a US$250 million (A$351 million) US Private Placement (USPP) debt issue for an average term of 14 years at a margin of 167 basis points over 3 month BBSW.

GPT's Chief Executive Officer, Bob Johnston, said the Group was pleased to announce an upgrade to guidance for 2018, now forecasting to deliver FFO per security growth and Distribution per security growth of 3.5 per cent for the full year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
Follow RTT