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
The United Kingdom's Competition and Markets Authority (CMA) has launched an investigation into technology giant Apple Inc. (AAPL) following complaints that its terms and conditions for app developers are unfair and anti-competitive. iPhone maker Apple also operates the App Store, which is the only... Supermarket chain Kroger Co. on Thursday reported that it posted a loss for the fourth quarter compared to a profit last year, hurt by pension plan withdrawal liabilities. Adjusted earnings per share topped analysts' estimates, while quarterly revenues missed it. However, the company initiated adjusted earning guidance for the full-year 2021, well above analysts' estimates. Retail sales are projected to grow at a potentially record rate during 2021, but the ongoing COVID-19 pandemic remains the biggest challenge for the year, according to the National Retail Federation. "There is no doubt the economy is positioned for growth in 2021, but how much growth comes down to a single non-economic force - the coronavirus," NRF Chief Economist Jack Kleinhenz said.
Follow RTT