Plus   Neg

GPT Group Says Rent Collection Rates Averaged 90% Of Q3 Billings

GPT Group (GPT.AX,GPTGF.PK) reported that its rent collection rates across the Group improved to 90% of rental billings in the third quarter, up from 67% in the second quarter. Retail collections increased to 81% of billings in the third quarter, up from 36% in the second quarter.

The company noted that office occupancy of 94.1% with leasing of 36,400 square metres completed during the third-quarter, compared to office occupancy of 94.4% at 30 June 2020.

The Group currently has $1.1 billion of available liquidity held in cash and undrawn bank facilities, which fully funds all current commitments to 2023.

The company said that fiscal year 2020 FFO and distribution guidance remains withdrawn, citing the ongoing uncertainty in relation to the duration and impact of the pandemic on its operations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow. Pfizer Inc. (PFE) and OPKO Health Inc. (OPK) announced Friday that the European Medicines Agency or EMA has validated for review the Marketing Authorization Application for somatrogon. Pfizer expects a decision from the European Commission in 2022. The company said somatrogon is a long-acting recombinant... German telecom giant Deutsche Telekom AG reported Friday strong growth in fourth-quarter profit mainly driven by T-Mobile US results following the takeover of the competitor Sprint. Looking ahead for fiscal 2021, the company projects higher adjusted EBITDA AL, a key earnings metric.
Follow RTT