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GPT Group Says Remains In Strong Financial Position

GPT Group (GPT.AX,GPTGF.PK), in its operational update for the first-quarter, said that it remains in a strong financial position with low gearing, limited debt maturities and significant available liquidity. It will provide the flexibility to manage through the current challenging operating environment.

Office leasing of 27,600 square metres (sqm) was completed during the quarter, with portfolio occupancy of 97.5 per cent.

Logistics leasing of 38,500 sqm was completed during the quarter, with portfolio occupancy increasing to 98.6 percent.

Total Centre sales growth of 3.0 per cent and Combined Specialty1 sales growth of 3.9 per cent was recorded for the first two months of 2020 compared to the same period in 2019.

GPT has withdrawn its 2020 FFO and distribution guidance.

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